In August 2021

Median value of bank appraisals on housing in the Autonomous Region of Madeira had the highest growth in the country

According to data released today by Statistics Portugal (INE), in August 2021, the average value of bank appraisals on housing, in the Autonomous Region of Madeira, reached €1 244/sq meter, increasing by 3.2% from July 2021 and 11.5% from the year-ago month. Compared to the other NUTS2 regions, the Autonomous Region of Madeira had the highest growth both year-on-year and month-on-month. It should be noted that a new maximum was reached in this indicator.

In flats located in the Autonomous Region of Madeira, the median value of bank appraisals in the month of reference was €1 287/sq meter, up by 4.2% compared to the previous month and up by 13.1% compared to the same month last year. In row houses, this indicator stood at €1 128/sq meter, 2.1% lower than the value observed in the previous month and 4.3% higher than the same month last year.  

At a municipal level, it is worth noting that the median value of bank appraisals in Funchal, in August 2021, stood at €1 513/sq meter, up by 3.5% over the previous month. It has grown by 18.9% year-on-year. 

Besides Funchal, only the municipalities of Santa Cruz and Câmara de Lobos exceeded the minimum number of registered observations (33) in the month in reference. Their bank appraisal values stood at €1 127/sq meter and €1 133/sq meter, respectively. The municipality on the east side of Madeira Island registered a monthly increase of 2.9% and a year-on-year rise of 7.2%. Câmara de Lobos recorded a of 5.9% increase compared to the same period of the previous year. It was not possible to calculate the year-on-year change since the 33 observations were not exceeded in August 2020.   

For Portugal, the vale remained unchanged of €1 221/sq meter in the month of reference, same value as in the previous month. The year-on-year change rate was +8.2%.    

By NUTS2 region, the highest values were registered Algarve (€1 632/sq meter) and in Área Metropolitana de Lisboa (€1 625/sq meter) followed by the Autonomous Region of Madeira (€1 244/sq meter).

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