In June 2022

Median value of bank appraisals on housing in the Autonomous Region of Madeira hit a new record high

According to data released today by Statistics Portugal (INE), in June 2022, the average value of bank appraisals on housing in the Autonomous Region of Madeira reached 1,360 euros/square meter, increasing by 1.8% from May 2022 and by 12.4% over the same month last year. This value is a new maximum of the available time series (since January 2011).

In flats located in the Autonomous Region of Madeira, the median value of bank appraisals in the month of reference was 1,376 euros/square meter, up by 2.2% when compared to the previous month and rising by 12.1% over the same month last year. In row houses, this indicator stood at 1,327 euros/square meter, 0.6% higher than the value recorded in the previous month and 12.4% 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 June 2022, stood at 1,612 euros/square meter, an increase of 0.2% over the previous month and of 11.0% year-on-year.

Besides Funchal, only the municipalities of Câmara de Lobos and Santa Cruz exceeded the minimum figure of observations (33) in the month in reference. Their bank appraisal values stood at 1,308 euros/square meter and at 1,218 euros/square meter, respectively. The municipality on the east side of Madeira Island registered a monthly increase of 1.4% and a year-on-year growth of 9.4%. Câmara de Lobos recorded an increase of 1.8% compared to the previous month and of 20.3% over the same month last year.

For Portugal, the median value of bank appraisals reached a new all-time high of 1,407 euros/square meter in the month of reference, up by 27 euros from the previous month (+2.0%). The year-on-year change was +15.8%.  

Considering the NUTS2 regions of the country, the highest values were registered in Algarve (1,895 euros/square meter) and in Área Metropolitana de Lisboa (1,870 euros/square meter) followed by the Autonomous Region of Madeira (1,360 euros/square meter).

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

For the calculation of the median value of bank appraisal in June 2022, 670 appraisals were considered, up by 8.2% over the same period of the previous year. Of these, 359 were flats and 311 were houses. Compared to the previous month, the number of bank appraisals went down by 46, corresponding to a decrease of 6.4%.

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