In May 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 May 2022, the average value of bank appraisals on housing in the Autonomous Region of Madeira reached 1,336 euros/sq meter, increasing by 1.8% from April 2022 and by 9.9% 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 1,346 euros/sq meter, up by 1.1% when compared to the previous month, rising by 9.8% over the same month last year. In row houses, this indicator stood at 1,319 euros/sq meter, 5.4% higher than the value recorded in the previous month and 10.5% higher than the same month last year.

At a municipal level, it is worth noting that the median value of bank appraisals in Funchal, in May 2022, stood at 1,609 euros/sq meter, an increase of 4.1% over the previous month and 14.4% 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 1,285 euros/sq meter and at 1,201 euros/sq meter, respectively. The municipality on the east side of Madeira Island registered a monthly increase of 2.6% and a year-on-year growth of 6.6%. Câmara de Lobos recorded an increase of 5.8% compared to the previous month and of 18.2% over the same month last year.

For Portugal, the median value of bank appraisals reached a new all-time high of 1,380 euros/sq meter in the month of reference, up by 24 euros from the previous month (+1.8%). The year-on-year change was +13.9%.  

Considering the NUTS2 regions of the country, the highest values were registered in Algarve (1,840 euros/sq meter) and in Área Metropolitana de Lisboa (1,829 euros/sq meter) followed by the Autonomous Region of Madeira (1,336 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 May 2022, 716 appraisals were considered, up by 7.7% over the same period of the previous year. Of these, 382 were flats and 334 were houses. Compared to the previous month, the number of bank appraisals went up by 17, corresponding to an increase of 2.4%.

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