In April 2024

Median value of bank appraisals on housing in the Autonomous Region of Madeira stood at 1,796 euros/square meter

According to data released today by Statistics Portugal (INE), in April 2024, the median value of bank appraisal for housing in the Autonomous Region of Madeira (ARM) was 1,796 euros/square meter. This figure represents a marginal increase of 0.6% compared to the previous month - up by ten euros - and an increase of 16.8% compared to the same month in the previous year, which translates to an additional 258 euros.

For apartments, the median value of bank appraisals in the ARM stood at 1,895 euros per square meter, reflecting an increase of 0.2% from March 2024 and a significant rise of 19.5% from April of the previous year. In the case of houses, this indicator was 1,658 euros per square meter, which is 1.9% higher than the previous month and 16.7% higher than the same month a year earlier.

At the municipal level, it is noteworthy that in April 2024, the median value of bank appraisals in Funchal was 2,108 euros per square meter, marking an increase of 1.2% from the previous month and 16.7% from April 2023.

Additionally, the municipalities of Câmara de Lobos and Santa Cruz, both surpassing the minimum threshold of observations (33), registered median value of bank appraisal of 1,731 euros per square meter and 1,683 euros per square meter, respectively. Câmara de Lobos observed a monthly increase of 3.0% and a year-on-year rise of 18.6%, whereas Santa Cruz experienced a monthly increase of 3.0% but a year-on-year increase of 16.3%.

Nationally, the median value of bank appraisal was 1,596 euros per square meter, up by 16 euros (or 1.0%) from the previous month, with a year-on-year growth of 7.0% (an additional 105 euros).

Among the nine NUTS 2 regions of the country, the highest values were recorded in Grande Lisboa (2,333 euros per square meter), Algarve (2,110 euros per square meter), and Peninsula de Setúbal (1,818 euros per square meter), followed by the ARM at 1,796 euros per square meter. Compared to the same period last year, the ARA (+19.7%) showed the highest positive change and Algarve (+1,3%) showed the lowest. Compared to the previous month, the Autonomous Region of Azores (+2.5%) led the increases, while Algarve was at the opposite end with a null change (0.0%).

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

In April 2024, a total of 672 appraisals were considered, marking a 36.9% increase from the year before, including 344 for apartments and 328 for houses. Compared to the previous month, the number of appraisals went up by 54, representing an 8.7% increase.

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