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In June 2021 

Median value of bank appraisals on housing in the Autonomous Region of Madeira decreased when compared with the previous month, but increased year-on-year 

According to data released today by Statistics Portugal (INE), in June 2021, the average value of bank appraisals on housing in the Autonomous Region of Madeira reached €1 210/sq meter, decreasing by 0.5% from May 2021 and increasing by 6.1% from the year-ago month. 

For the flats located in the Autonomous Region of Madeira the median value of bank appraisals in the month of reference was €1 228/sq meter, up by 0.2% compared to previous month and up 10.5% over June 2020. In the case of row houses, the value was lower (€1 181/sq meter), with the growth rates, by the same order, standing at -1.1% and +2.3%. 

At a municipal level, it is worth noting that the median value of bank appraisals in Funchal, in June 2021, stood at €1 452 /sq meter, up by 3.3% over the previous month. It has grown by 15.9% year-on-year. 

Besides Funchal, in the month in reference, only the municipalities of Santa Cruz and Câmara de Lobos exceeded the minimum number of registered observations (33). Their bank appraisal values stood at €1 113 /sq meter and €1 087/sq meter, respectively. The municipality on the east side of Madeira Island registered a monthly decrease of 1.2% and a year-on-year increase of 5.5%. Câmara de Lobos maintained the same value as the previous month.  

For Portugal, that same variable stood at €1 215/sq meter in the month of reference, up by 3 euros from the previous month (+0.2%). The year-on-year change rate was +9.0%. The highest values were registered in Área Metropolitana de Lisboa (€1 600/sq meter) and Algarve (€1 574/sq meter) followed by the Autonomous Region of Madeira (€1 210/sq meter).

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