In April 2023

Median value of housing bank appraisals in the Autonomous Region of Madeira reached a new high of 1,538 euros/m²

According to the data released today by Statistics Portugal (INE), the median value of housing bank appraisals in the Autonomous Region of Madeira (ARM) reached a new high of 1,538 euros/m² in April 2023. This represents a 1.2% increase compared to the previous month, equivalent to an additional 18 euros, and a 17.2% rise compared to the same month of the previous year, which amounts to an increase of 226 euros.

In terms of apartments, the median value of bank appraisals in the ARM was 1,586 euros/m², showing a slight change of +0.5% compared to March 2023 and a +19.1% increase compared to the same month last year. As for houses, this indicator stood at 1,421 euros/m², which is 2.1% higher than the previous month and a +13.6% increase compared to the same month last year.

At the municipal level, it is worth noting that in April 2023, the median value of bank appraisals in Funchal was 1,806 euros/m². This represents a 0.8% increase compared to the previous month and a 16.8% rise compared to April 2022.

In addition to Funchal, in the reference month, the municipalities of Câmara de Lobos and Santa Cruz also exceeded the minimum number of recorded observations (33). Câmara de Lobos experienced a decrease of 5.0% compared to the previous month and an increase of 20.2% compared to the same month last year, with a bank appraisal value of 1,459 euros/m². Santa Cruz recorded a monthly change of +2.0% and a year-on-year change of +23.6%, with a bank appraisal value of 1,447 euros/m².

In the country, the median value of bank appraisals reached 1,491 euros/m², which is 8 euros higher than the previous month (+0.5%). The year-on-year change was +10.0% (+135 euros).

Among the country's 7 NUTS 2 regions, the highest values were observed in the Algarve (2,083 euros/m²) and Área Metropolitana de Lisboa (1,988 euros/m²), followed by the Autonomous Region of Madeira (1,538 euros/m²).

Number of bank appraisals decreased compared to the previous month and the same month last year

For the calculation of the median value of bank appraisals in April 2023, a total of 491 appraisals were considered. This reflects a decrease of 29.8% compared to the same period in the previous year. Out of these appraisals, 261 were for apartments, while 230 were for houses. In comparison to the previous month, there were 10 fewer appraisals, indicating a decrease of 2.0%.

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