In November 2022

Median value of bank appraisals on housing in the Autonomous Region of Madeira stood at 1,463 euros/square meter

According to data released today by Statistics Portugal (INE), in November 2022, the average value of bank appraisals on housing in the Autonomous Region of Madeira reached 1,463 euros/square meter, increasing by 2.2% from October 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 1,501 euros/square meter, up by 3.7% when compared to the previous month and rising by 13.9% over the same month last year. In row houses, this indicator stood at 1,435 euros/square meter, 3.2% higher than the value recorded in the previous month, and up by +19.6% over the same month last year.

At a municipal level, it is worth noting that the median value of bank appraisals in Funchal, in November 2022, reached 1,744 euros/square meter, an increase of 3.8% over the previous month and of 15.6% 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 1,492 euros/square meter and at 1,359 euros/square meter, respectively. The municipality on the east side of Madeira Island registered a monthly increase of 0.9% and a year-on-year growth of 16.7%. Câmara de Lobos recorded an increase of 7.6% compared to the previous month and an increase of 36.1% over the same month last year.

For Portugal, the median value of bank appraisals reached 1,449 euros/square meter in the month of reference, up by 29 euros from the previous month (+2.0%). The year-on-year change was +13.9%. 

Considering the NUTS2 regions of the country, the highest values were recorded in Algarve (2,009 euros/square meter) and in Área Metropolitana de Lisboa (1,929 euros/square meter) followed by the Autonomous Region of Madeira (1,463 euros/square meter).

Number of bank appraisals decreased 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 November 2022, 571 appraisals were considered, down by 14.1% over the same period of the previous year. Of these, 300 were flats and 271 were houses. Compared to the previous month, the number of bank appraisals went down by 71, corresponding to a decrease of 11.1%.

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