In September 2024

Median value of bank appraisals for housing in the Autonomous Region of Madeira increased by 11.8% year-on-year

According to data released today by Statistics Portugal (INE), in September 2024, the median value of bank appraisals for housing in the Autonomous Region of Madeira (ARM) was 1 959 euros/square meter. This figure represents an increase of 1.6% compared to the previous month - up by 30 euros - and a growth of 11.8% compared to the same month in the previous year, which translates to an additional 206 euros.

For apartments, the median value of bank appraisals in the ARM stood at 2 039 euros per square meter, reflecting an increase of 2.8% compared to August 2024 and a rise of 11.1% from September of the previous year. For houses, this indicator was 1 826 euros per square meter, which is 0.5% higher than the previous month and 14.6% higher than the same month a year earlier.

At the municipal level, it is noteworthy that in September 2024, the median value of bank appraisals in Funchal was 2 288 euros per square meter, marking an increase of 2.0% from the previous month and 11.7% from September 2023.

Additionally, the municipalities of Câmara de Lobos and Santa Cruz, which surpassed the minimum threshold of observations (33), registered a median value of bank appraisals of 1 897 euros per square meter and 1 810 euros per square meter, respectively. Câmara de Lobos observed a monthly increase of 2.2% and a year-on-year rise of 27.3%, whereas Santa Cruz experienced a monthly increase of 0.8% and a year-on-year growth of 12.4%.

Nationally, the median value of bank appraisals was 1 695 euros per square meter, up by 31 euros (or 1.9%) from the previous month, with a year-on-year growth of 10.0% (an additional 154 euros).

Among the nine NUTS 2 regions of the country, the highest values were recorded in Grande Lisboa (2 489 euros per square meter) and Algarve (2 285 euros per square meter), followed by the ARM at 1 959 euros per square meter. Compared to the same period last year, Oeste e Vale do Tejo (+12.8%) showed the highest positive change, followed by the ARM (+11,8%), while Alentejo (+0,4%) showed the lowest. Compared to the previous month, the Algarve (+2.6%) led the increases, followed by Alentejo (-0.5%) at the opposite pole.

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

In September 2024, a total of 693 appraisals were considered, marking a 26.7% increase from the previous year. Of these, 391 were for apartments and 302 for houses. Compared to the previous month, the number of appraisals went up by 29, representing a 4.4% increase. Nationally, the year-on-year change in the number of bank appraisals was +32.8%, while the month-on-month change was +4.3%. 

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