In February 2022

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 February 2022, the average value of bank appraisals on housing in the Autonomous Region of Madeira reached 1,292 euros/sq meter, decreasing by 0.2% from January 2022 and increasing by 8.4% over the same month last year. 

In flats located in the Autonomous Region of Madeira, the median value of bank appraisals in the month of reference was 1,330 euros/sq meter, up by 0.9% when compared to the previous month, increasing by 12.1% compared to the same month last year. In row houses, this indicator stood at 1,234 euros/sq meter, 1.6% lower than the value recorded in the previous month and 2.5% 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 February 2022, stood at 1,510 euros/sq meter, the same value as the previous month and having increased 4.5% 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 1,188 euros/sq meter and 1,205 euros/sq meter, respectively. The municipality on the east side of Madeira Island registered a monthly decrease of 0.1% from the previous month and a year-on-year growth of 13.4%. Câmara de Lobos recorded an increase of 1.2% compared to the previous month.

For Portugal, the median value of bank appraisals reached an all-time high of 1,314 euros/sq meter in the month of reference, up by 22 euros from the previous month (+1.7%). The year-on-year change was +11.9%.  

Considering the NUTS2 regions of the country, the highest values were registered in Algarve (1,811 euros/sq meter) and in Área Metropolitana de Lisboa (1,767 euros/sq meter) followed by the Autonomous Region of Madeira (1,292 euros/sq meter).

Number of bank appraisals decreased compared to the previous month but increased compared to the corresponding period of the prior year

For the calculation of the median value of bank appraisal in February 2022, 648 appraisals were considered, up by 29.6% over the same period of the previous year. Of these, 363 were flats and 285 were houses. Compared to the previous month, the number of bank appraisals went down by 13, corresponding to a decrease of 2.0%.

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