In June 2024

Median value of bank appraisals for housing in the Autonomous Region of Madeira stood at 1 886 euros per square meter

According to data released today by Statistics Portugal (INE), in June 2024, the median value of bank appraisals for housing in the Autonomous Region of Madeira (ARM) was 1 886 euros/square meter. This figure represents an increase of 2.1% compared to the previous month - up by 39 euros - and a growth of 17.9% compared to the same month in the previous year, which translates to an additional 286 euros.

For apartments, the median value of bank appraisals in the ARM stood at 1 968 euros per square meter, reflecting an increase of 2.2% compared to May 2024 and a significant rise of 16.3% from June of the previous year. For houses, this indicator was 1,775 euros per square meter, which is 2.8% higher than the previous month and 18.3% higher than the same month a year earlier.

At the municipal level, it is noteworthy that in June 2024, the median value of bank appraisals in Funchal was 2 180 euros per square meter, marking an increase of 3.4% from the previous month and 12.2% from June 2023.

Additionally, the municipalities of Câmara de Lobos and Santa Cruz, surpassing the minimum threshold of observations (33), registered a median value of bank appraisals of 1 735 euros per square meter and 1 801 euros per square meter, respectively. Câmara de Lobos observed a monthly increase of 0.1% and a year-on-year rise of 23.2%, whereas Santa Cruz experienced a monthly increase of 2.9% and a year-on-year growth of 21.8%.

Nationally, the median value of bank appraisals was 1 618 euros per square meter, up by 8 euros (or 0.5%) from the previous month, with a year-on-year growth of 6.6% (an additional 100 euros).

Among the nine NUTS 2 regions of the country, the highest values were recorded in Grande Lisboa (2 390 euros per square meter) and Algarve (2 195 euros per square meter), followed by the ARM at 1 886 euros per square meter. Compared to the same period last year, the ARM (+17.9%) showed the highest positive change and Algarve (+2,3%) showed the lowest. Compared to the previous month, ARM (+2.1%) led the increases, while the Alentejo experienced the largest negative change (-0.2%). 

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

In June 2024, a total of 684 appraisals were considered, marking a 32.0% increase from the previous year, including 351 for apartments and 333 for houses. Compared to the previous month, the number of appraisals went down by 16, representing a 2.3% decrease. 

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