In November 2024

Median value of bank appraisals for housing in the Autonomous Region of Madeira rose to 2,040 euros per square meter 

According to data released today by Statistics Portugal (INE), in November 2024, the median value of bank appraisals for housing in the Autonomous Region of Madeira (ARM) was 2 040 euros/square meter. This figure represents an increase of 1.5% compared to the previous month - up by 30 euros - and a growth of 19.2% compared to the same month in the previous year, which translates to an additional 328 euros.

For apartments, the median value of bank appraisals in the ARM stood at 2 221 euros per square meter, reflecting an increase of 3.8% compared to October 2024 and a rise of 23.1% from November of the previous year. For houses, this indicator was 1 816 euros per square meter, which is 1.9% lower than the previous month and 13.5% above that recorded in the same month last year.

At the municipal level, it is noteworthy that in November 2024, the median value of bank appraisals in Funchal was 2 415 euros per square meter, marking an increase of 0.8% from the previous month and 21.7% from November 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 1 946 euros per square meter and 1 875 euros per square meter, respectively. Câmara de Lobos observed a monthly increase of 0.5% and a year-on-year rise of 24.4%, whereas Santa Cruz experienced a monthly increase of 1.1% and a year-on-year growth of 17.9%.

Nationally, the median value of bank appraisals was 1 740 euros per square meter, up by 19 euros (or 1.1%) from the previous month, with a year-on-year growth of 13.7% (an additional 210 euros).

Among the nine NUTS 2 regions of the country, the highest values were recorded in Grande Lisboa (2 559 euros per square meter) and Algarve (2 312 euros per square meter), followed by the ARM at 2 040 euros per square meter. Compared to the same period last year, the ARM (+19.2%) showed the highest positive change, while Alentejo (+3,7%) showed the lowest. Compared to the previous month, the Autonomous Region of Azores (+2.2%) led the increases, followed by Algarve (-0.4%) at the opposite pole.

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

In November 2024, a total of 806 appraisals were considered, marking a 34.8% increase from the previous year. Of these, 454 were for apartments and 352 for houses. Compared to the previous month, the number of appraisals went up by 67, representing a 9.1% increase. Nationally, the year-on-year change in the number of bank appraisals was +27.1%, while the month-on-month change was +6.5%. 

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