In December 2019
Average value of housing bank evaluation in the Autonomous Region of Madeira decreased from the previous month and increased year-on-year
According to the information released today by Statistics Portugal (INE), in December 2019, the average value of bank appraisals on housing in the Autonomous Region of Madeira reached €1 413/sq meter, dropping by 1.2% from November 2019 and increasing by 5.4% from the year-ago month.
For the flats located in the Autonomous Region of Madeira, the average value of bank appraisals in the month of reference was €1 445/sq meter. In the case of row houses the value was lower (€1 372/sq meter).
For Portugal, that same variable stood at €1 321/sq meter in the month of reference, 0.7% above the previous month. The year-on-year change rate was +8.3%.
In 2019, the average value of housing bank in RAM grew below the national average
In 2019, the average value of bank appraisals rose to €1 385/sq meter, an increase of 5.2% compared to 2018 (€1 316/sq meter). Considering the type of the accommodation, in 2019, the average value of appraisals increased by 5.3% in flats and by 5.1% in row houses, to €1 414/sq meter and €1 346 euros/sq meter, respectively (€1 343/sq meter and €1 281/sq meter, in 2018). At the country level, overall growth was 7.9%, reaching 9.5% in flats and 5.2% in row houses. Algarve (+10.9%) and Norte (+8.7%) were the regions with the highest increases, in contrast to the Autonomous Regions of the Azores and Madeira, where the growth in this indicator was less pronounced (+5.4% and +5.2%, respectively).
Given the available time series, the average value of bank appraisals in the Region has been growing since 2015, with the value of 2019 being the highest since 2012.
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