In July 2022

Median value of bank appraisals on housing in the Autonomous Region of Madeira hit a new record high

According to data released today by Statistics Portugal (INE), in July 2022, the average value of bank appraisals on housing in the Autonomous Region of Madeira reached 1,371 euros/square meter, increasing by 0.8% from June 2022 and by 13.8% over the same month last year. This value is a new maximum of the available time series (since January 2011).

In flats located in the Autonomous Region of Madeira, the median value of bank appraisals in the month of reference was 1,377 euros/square meter, up by 0.1% when compared to the previous month and rising by 11.5% over the same month last year. In row houses, this indicator stood at 1,332 euros/square meter, 0.4% higher than the value recorded in the previous month and 15.6% 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 July 2022, stood at 1,630 euros/square meter, an increase of 1.1% over the previous month and of 11.5% 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 1,422 euros/square meter and at 1,233 euros/square meter, respectively. The municipality on the east side of Madeira Island registered a monthly increase of 1.2% and a year-on-year growth of 12.6%. Câmara de Lobos recorded an increase of 8.7% compared to the previous month and of 32.9% over the same month last year.

For Portugal, the median value of bank appraisals reached a new all-time high of 1,417 euros/square meter in the month of reference, up by 10 euros from the previous month (+0.7%). The year-on-year change was +16.1%.  

Considering the NUTS2 regions of the country, the highest values were recorded in Algarve (1,908 euros/square meter) and in Área Metropolitana de Lisboa (1,883 euros/square meter) followed by the Autonomous Region of Madeira (1,371 euros/square meter).

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

For the calculation of the median value of bank appraisal in July 2022, 658 appraisals were considered, up by 7.9% over the same period of the previous year. Of these, 346 were flats and 312 were houses. Compared to the previous month, the number of bank appraisals went down by 12, corresponding to a decrease of 1.8%.

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