In September 2022

Median value of bank appraisals on housing in the Autonomous Region of Madeira stood at 1,400 euros/square meter

According to data released today by Statistics Portugal (INE), in September 2022, the average value of bank appraisals on housing in the Autonomous Region of Madeira reached 1,400 euros/square meter, increasing by 1.1% from August 2022 and by 10.5% 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 1,406 euros/square meter, up by 1.0% when compared to the previous month and rising by 7.3% over the same month last year. In row houses, this indicator stood at 1,387 euros/square meter, 0.2% higher than the value recorded in the previous month and 21.9% 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 September 2022, reached 1,650 euros/square meter, an increase of 0.3% over the previous month and of 10.9% 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 1,389 euros/square meter and at 1,315 euros/square meter, respectively. The municipality on the east side of Madeira Island registered a monthly increase of 3.6% and a year-on-year growth of 13.2%. Câmara de Lobos recorded a decrease of 0.2% compared to the previous month and an increase of 25.9% over the same month last year.

For Portugal, the median value of bank appraisals reached 1,429 euros/square meter in the month of reference, up by 15 euros from the previous month (+1.1%). The year-on-year change was +15.6%.  

Considering the NUTS2 regions of the country, the highest values were recorded in Algarve (1,954 euros/square meter) and in Área Metropolitana de Lisboa (1,900 euros/square meter) followed by the Autonomous Region of Madeira (1,400 euros/square meter).

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

For the calculation of the median value of bank appraisal in September 2022, 629 appraisals were considered, up by 6.6% over the same period of the previous year. Of these, 347 were flats and 282 were houses. Compared to the previous month, the number of bank appraisals went down by 6, corresponding to a decrease of 0.9%.

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