In October 2021

Median value of bank appraisals on housing in the Autonomous Region of Madeira reached a new high of the available time series

According to data released today by Statistics Portugal (INE), in October 2021, the average value of bank appraisals on housing, in the Autonomous Region of Madeira, reached 1 286 euros/sq meter – a new record – increasing by 1.5% from September 2021 and by 9.5% 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 1 319 euros/sq meter, up by 0.7% when compared to the previous month and up by 10.7% compared to the same month last year. In row houses, this indicator stood at 1 179 euros/sq meter, 3.6% higher than the value recorded in the previous month and 4.6% 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 October 2021, stood at 1 489 euros/sq meter, up by 0.1% over the previous month, having grown 7.2% 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 1 156 euros/sq meter and 1 125 euros/sq meter, respectively. The municipality on the east side of Madeira Island registered a monthly decrease of 0.5% and an increase a year-on-year rise of 10.4%. Câmara de Lobos recorded a 2.0% growth compared to the previous month. It was not possible to calculate the year-on-year change since the minimum number of observations (33) was not reached in October 2021. 

For Portugal, that same variable reached an all-time high of 1 251 euros/sq meter in the month of reference, up by 15 euros from the previous month (+1.2%). The year-on-year change was +10.6%.  

By NUTS2 regions of the country, the highest values were registered in Algarve (1 673 euros/sq meter) and Metropolitan Area of Lisbon (1 659 euros/sq meter) followed by the Autonomous Region of Madeira (1 286 euros/sq meter).

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