In November 2021

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

According to data released today by Statistics Portugal (INE), in November 2021, the average value of bank appraisals on housing, in the Autonomous Region of Madeira, reached 1,286 euros/sq meter, remaining unchanged from October 2021 but increasing by 9.7% 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 1,318 euros/sq meter, down by 0.1% when compared to the previous month and up by 11.2% compared to the same month last year. In row houses, this indicator stood at 1,200 euros/sq meter, 1.8% higher than the value recorded in the previous month and 4.7% 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 November 2021, stood at 1,509 euros/sq meter, up by 1.3% over the previous month, having grown 8.5% year-on-year.

Besides Funchal, only the municipalities of Santa Cruz and Câmara de Lobos exceeded the minimum figure of observations (33) in the month in reference. Their bank appraisal values stood at 1,165 euros/sq meter and 1,096 euros/sq meter, respectively. The municipality on the east side of Madeira Island registered a monthly increase of 0.8% and a year-on-year increase of 11.8%. Câmara de Lobos recorded a decrease of 2.6% compared to the previous month and but increased, 2.9% year-on-year.

For Portugal, the median value of bank appraisals reached an all-time high of 1,272 euros/sq meter in the month of reference, up by 21 euros from the previous month (+1.7%). The year-on-year change was +11.2%.  

By NUTS2 regions of the country, the highest values were registered in Algarve (1,708 euros/sq meter) and Área Metropolitana de Lisboa (1,675 euros/sq meter) followed by the Autonomous Region of Madeira (1,286 euros/sq meter).

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