In November 2023, the median value of bank appraisals on housing in the Autonomous Region of Madeira (ARM) stood at 1,712 euros/m²
 

According to data released today by Statistics Portugal(INE), in November 2023, the median value of bank appraisals for housing in the Autonomous Region of Madeira was 1,712 euros per square meter, the same as the preceding month, representing a 17.0% increase compared to the same month of the previous year (+249 euros).

For apartments, the median value of bank appraisals in the ARM was 1,804 euros/m², reflecting a change of +1.1% compared to October 2023 and +20.2% compared to the same month in the previous year. In the case of houses, this indicator was 1,600 euros/m², the same as the value observed in the previous month and +11.5% compared to the value of the same month in the previous year.

At the municipal level, it is noteworthy that the median value of bank appraisals in Funchal in November 2023 was 1,984 euros/m², +1.4% compared to the preceding month and +13.4% compared to November 2022.

In addition to Funchal, in the reference month, Câmara de Lobos and Santa Cruz also exceeded the minimum number of recorded observations (33), with appraisal values reaching 1,564 euros/m² and 1,591 euros/m², respectively. Câmara de Lobos observed an increase of 2.8% compared to the previous month and 4.8% compared to the same month in the previous year, while Santa Cruz recorded a monthly change of -0.2% and a year-on-year increase of +17.1%.

The median value of bank appraisals in the country was 1,530 euros /m², which is 6 euros less than the previous month (-0.4%). The year-on-year change was +5.6% (+81 euros).

Among the 7 NUTS 2 regions of the country, the highest values were observed in Algarve (2,065 euros /m²) and Área Metropolitana de Lisboa (2,022 euros /m²), with the ARM (1,712 euros/m²) ranking next. Compared to the same period last year, the ARM (+17.0%) showed the highest change, and Algarve (+2.8%) showed the lowest. Compared to the previous month, Alentejo (+0.8%) led the increases, while Área Metropolitana de Lisboa and Algarve (-0.5%) were at the opposite end.

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

For the determination of the median value of bank appraisals in November 2023, 598 appraisals were considered, up by +4.7% over the same period of the previous year. Of these, 309 were for apartments and 289 for houses. Compared to the previous month, the number of appraisals went up by 39, representing an increase of 7.0%.

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