In April 2022

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

According to data released today by Statistics Portugal (INE), in April 2022, the average value of bank appraisals on housing in the Autonomous Region of Madeira reached 1,312 euros/sq meter, decreasing by 0.3% from March 2022 and increasing by 7.0% 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 1,332 euros/sq meter, down by 0.3% when compared to the previous month, and up by 8.1% compared to the same month last year. In row houses, this indicator stood at 1,251 euros/sq meter, 1.9% lower than the value recorded in the previous month and up by 3.0% over the same month last year.

At a municipal level, it is worth noting that the median value of bank appraisals in Funchal, in April 2022, stood at 1,546 euros/sq meter, a decrease of 1.0% over the previous month, rising by 8.1% year-on-year.

Besides Funchal, only the municipalities of Câmara de Lobos and Santa Cruz exceeded the minimum figure of observations (33) in the month in reference. Their bank appraisal values stood at 1,214 euros/sq meter and 1,171 euros/sq meter, respectively. The municipality on the east side of Madeira Island registered a monthly decrease of 1.4% and a year-on-year growth of 3.1%. Câmara de Lobos recorded a decrease of 2.1% compared to the previous month, going up by 10.0% over the same month last year.

For Portugal, the median value of bank appraisals reached a new all-time high of 1,356 euros/sq meter in the month of reference, up by 25 euros from the previous month (+1.9%). The year-on-year change was +13.0%.  

Considering the NUTS2 regions of the country, the highest values were registered in Algarve (1,811 euros/sq meter) and in Área Metropolitana de Lisboa (1,806 euros/sq meter) followed by the Autonomous Region of Madeira (1,312 euros/sq meter).

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

For the calculation of the median value of bank appraisal in April 2022, 699 appraisals were considered, up by 13.7% over the same period of the previous year. Of these, 387 were flats and 312 were houses. Compared to the previous month, the number of bank appraisals went down by 20, corresponding to a decrease of 2.8%.

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