In December 2021

Median value of bank appraisals on housing, in the Autonomous Region of Madeira, decreased when compared to the previous month, but increased year-on-year

According to data released today by Statistics Portugal (INE), in December 2021, the average value of bank appraisals on housing, in the Autonomous Region of Madeira, reached 1,271 euros/sq meter, decreasing by 1.2% from November 2021 and increasing by 7.5% from the year-ago month. 

In flats located in the Autonomous Region of Madeira, the median value of bank appraisals in the month of reference was 1,308 euros/sq meter, down by 0.8% when compared to the previous month and up by 9.8% compared to the same month last year. In row houses, this indicator stood at 1,190 euros/sq meter, 0.8% lower than the value recorded in the previous month and 2.9% higher than the value of the same month last year.

At a municipal level, it is worth noting that the median value of bank appraisals in Funchal, in December 2021, stood at 1,507 euros/sq meter, down by 0.1% over the previous month, having grown by 6.5% year-on-year.

Besides Funchal, only the municipalities of Santa Cruz and Câmara de Lobos exceeded the minimum figure of observations (33) in the month in reference. Their bank appraisal values stood at 1,142 euros/sq meter and 1,137 euros/sq meter, respectively. The municipality on the east side of Madeira Island registered a monthly decrease of 2.0% and a year-on-year increase of 9.9%. Câmara de Lobos recorded an increase of 3.7% compared to the previous month and 5.7% year-on-year.

For Portugal, the median value of bank appraisals reached an all-time high of 1,285 euros/sq meter in the month of reference, up by 13 euros from the previous month (+1.0%). The year-on-year change was +11.2%.  

By NUTS2 regions of the country, the highest values were registered in Algarve (1,731 euros/sq meter) and Área Metropolitana de Lisboa (1,701 euros/sq meter) followed by the Autonomous Region of Madeira (1,271 euros/sq meter).

Number of bank appraisals increased compared to the previous months and to the corresponding period of the prior year

In this release, the Regional Directorate of Statistics of Madeira provides information on the number of bank appraisals (last 3 months) for the purpose of monthly calculation of the median value of the bank appraisal, thus enriching the current time series, with data on the number of bank appraisals by type of construction since January 2019.

For the calculation of the median value of bank appraisal in December 2021, 651 appraisals were considered, up by 8.3% over the same period of the previous year. Of these, 357 were of flats and 294 of houses. Compared to the previous month, 14 fewer bank valuations were considered, corresponding to a decrease of 2.1%.

In 2021, the median value of housing bank in the Autonomous Region of Madeira grew below the national average

In 2021, the median value of bank appraisals rose to 1 233 euros/sq meter, an increase of 6.8% compared to 2020. Considering the type of accommodation, in 2021, the median value of bank appraisals increased by 8.3% in flats and by 4.3% in houses, to 1 266 euros/sq meter and 1 180 euros/sq meter, respectively. At the country level  (1 231 euros/sq meter), the overall growth was 9.0%, reaching 10.0% in flats and 5.9% in houses.

Given the available time series, the median value of bank appraisals in the Region has been growing since 2015, being the value of 2021 the highest of the series.

Back

• Prev
• Next