In January 2024,

Median value of bank appraisals on housing in the Autonomous Region of Madeira (ARM) stood at 1,787 euros/square meter
 

According to data released today by Statistics Portugal (INE), in January 2024, the median value of bank appraisal for housing in the ARM was 1,787 euros/square meter. This marked an increase of 4.0% compared to the preceding month (an increase of 69 euros) and a rise of 19.0% compared to the same month in the previous year (+285 euros).

For apartments, the median value of bank appraisals in the ARM was 1,855 euros/square meter, reflecting a change of +2.0% compared to December 2023 and +18.9% compared to the same month in the previous year. In the case of houses, this indicator was 1,628 euros/square meter, a 1.8% increase from the previous month and a 12.8% increase compared to the same month last year.

At the municipal level, it is noteworthy that the median value of bank appraisals in Funchal in January 2024 was 2,054 euros/square meter, +3.6% compared to the preceding month and +17.6% compared to January 2023.

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 1,579 euros/square meter and 1,626 euros/square meter, respectively. Câmara de Lobos observed a decrease of 3.5% compared to the previous month and an increase of 0.8% compared to the same month in the previous year, while Santa Cruz recorded a monthly change of +0.6% and a year-on-year of +17.3%.

The median value of bank appraisals in the country was 1,550 euros/square meter, which is 14 euros higher than the previous month (+0.9%). The year-on-year change was +4.4% (+65 euros).

Among the 9 NUTS 2 regions of the country, the highest values were observed in Grande Lisboa (2,292 euros/square meter) and Algarve (2,080 euros/square meter), with the ARM (1,787 euros/square meter) ranking next. Compared to the same period last year, the ARM (+19.0%) showed the highest positive change, while Algarve (-0.5%) was the only Region to show a decrease. Compared to the previous month, ARM (+4.0%) led the increases, while the Oeste e Vale do Tejo was at the opposite end with a null change (0.0%).

Number of bank appraisals decreased compared to the previous month but increased year-on-year 

For the determination of the median value of bank appraisals in January 2024, 561 appraisals were considered, up by 18.4% over the same period of the previous year. Of these, 300 were for apartments and 261 for houses. Compared to the previous month, the number of appraisals went down by 13, representing a decrease of 2.3%.

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