In March 2022

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

According to data released today by Statistics Portugal (INE), in March 2022, the average value of bank appraisals on housing in the Autonomous Region of Madeira reached 1,316 euros/sq meter, increasing by 1.9% from February 2022 and by 9.8% over the same month last year. 

In flats located in the Autonomous Region of Madeira, the median value of bank appraisals in the month of reference was 1,336 euros/sq meter, up by 0.5% when compared to the previous month, up 11.6% compared to the same month last year. In row houses, this indicator stood at 1,275 euros/sq meter, 3.3% higher than the value recorded in the previous month and up by 6.2% over the same month last year.

At a municipal level, it is worth noting that the median value of bank appraisals in Funchal, in March 2022, stood at 1,562 euros/sq meter, an increase of 3.4% over the previous month, rising by 9.7% 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 1,188 euros/sq meter and 1,240 euros/sq meter, respectively. The municipality on the east side of Madeira Island registered the same value as in the previous month and a year-on-year growth of 9.8%. Câmara de Lobos recorded a change of +2.9% compared to the previous month, going up by 9.4% over the same month last year.

For Portugal, the median value of bank appraisals reached a new all-time high of 1,331 euros/sq meter in the month of reference, up by 17 euros from the previous month (+1.3%). The year-on-year change was +12.1%.  

Considering the NUTS2 regions of the country, the highest values were registered in Algarve (1,800 euros/sq meter) and in Área Metropolitana de Lisboa (1,778 euros/sq meter) followed by the Autonomous Region of Madeira (1,316 euros/sq meter).

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

For the calculation of the median value of bank appraisal in March 2022, 719 appraisals were considered, up by 22.1% over the same period of the previous year. Of these, 397 were flats and 322 were houses. Compared to the previous month, the number of bank appraisals went up by 71, corresponding to an increase of 11.0%.

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