In January 2022

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

According to data released today by Statistics Portugal (INE), in January 2022, the average value of bank appraisals on housing in the Autonomous Region of Madeira reached 1,294 euros/sq meter, increasing by 1.8% from December 2021 and by 10.9% 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, up by 0.8% when compared to the previous month, increasing by 12.6% compared to the same month last year. In row houses, this indicator stood at 1,254 euros/sq meter, a 5.4% rise over the value recorded in the previous month and 8.0% higher than 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 January 2022, stood at 1,510 euros/sq meter, up by 0.2% over the previous month, having increased 4.9% 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 1,189 euros/sq meter and 1,191 euros/sq meter, respectively. The municipality on the east side of Madeira Island registered a monthly increase of 4.1% and a year-on-year growth of 14.3%. Câmara de Lobos recorded an increase of 4.7% compared to the previous month and of 11.2% year-on-year.

For Portugal, the median value of bank appraisals reached an all-time high of 1,292 euros/sq meter in the month of reference, up by 7 euros from the previous month (+0.5%). The year-on-year change was +10.4%.  

Considering the NUTSII regions of the country, the highest values were registered in Algarve (1,780 euros/sq meter) and in Área Metropolitana de Lisboa (1,730 euros/sq meter) followed by the Autonomous Region of Madeira (1,294 euros/sq meter).

Number of bank appraisals increased compared to the previous month and to the corresponding period of the prior year

For the calculation of the median value of bank appraisal in January 2022, 661 appraisals were considered, up by 17.6% over the same period of the previous year. Of these, 364 were flats and 297 were houses. Compared to the previous month, the number of bank appraisals went up by 10, corresponding to an increase of 1.5%.

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