In September 2021

Median value of bank appraisals on housing in the Autonomous Region of Madeira grew above national average

According to data released today by Statistics Portugal (INE), in September 2021, the average value of bank appraisals on housing, in the Autonomous Region of Madeira, reached €1 267/sq meter – a new record – increasing by 1.8% from August 2021 and by 10.4% from the year-ago month.

In flats located in the Autonomous Region of Madeira, the median value of bank appraisals in the month of reference was €1 310/sq meter, up by 1.8% when compared to the previous month and by 12.6% compared to the same month last year. In row houses, this indicator stood at €1 138/sq meter, 0.9% higher than the value recorded in the previous month and 2.2% above the value of the same month last year. 

At a municipal level, it is worth noting that the median value of bank appraisals in Funchal, in September 2021, stood at €1 488/sq meter, down by 1.7% over the previous month, having grown 9.0% year-on-year.

Besides Funchal, only the municipalities of Santa Cruz and Câmara de Lobos exceeded the minimum number of observations (33) in the month in reference. Their bank appraisal values stood at €1 162/sq meter and €1 103/sq meter, respectively. The municipality on the east side of Madeira Island registered a monthly increase of 3.1% and a year-on-year rise of 11.3%. Câmara de Lobos recorded a 2.6% reduction compared to the previous month. It was not possible to calculate the year-on-year change since the minimum number of observations was not reached in September 2020.  

For Portugal, that same variable reached an all-time high of €1 236/sq meter in the month of reference, up by 15 euros from the previous month (+1.2%). The year-on-year change was +9.6%.   

By NUTS2 regions of the country, the highest values were registered in Algarve (€1 659/sq meter) and Metropolitan Area of Lisbon (€1 638/sq meter) followed by the Autonomous Region of Madeira (€1 267/sq meter).

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