In February 2023

Median value of bank appraisals on housing in the Autonomous Region of Madeira stood at 1,500 euros/square meter

According to data released today by Statistics Portugal (INE), in February 2023, the average value of bank appraisals on housing in the Autonomous Region of Madeira reached 1,500 euros/square meter, decreasing by 0.1% from January 2023 and increasing by 16.1% 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 1,558 euros/square meter, down by 0.1% when compared to the previous month and up by 17.1% over the same month last year. In row houses, this indicator stood at 1,410 euros/square meter, 2.3% lower than the value recorded in the previous month, and up by +14.3% over the same month last year.

At a municipal level, it is worth noting that the median value of bank appraisals in Funchal, in February 2023, reached 1,743 euros/square meter, a decrease of 0.2% over the previous month and an increase of 15.4% year-on-year.

Besides Funchal, the municipalities of Câmara de Lobos and Santa Cruz also exceeded the minimum figure of observations (33) in the month in reference. Their bank appraisal values stood at 1,522 euros/square meter and at 1,414 euros/square meter, respectively. Câmara de Lobos recorded a decrease of 2.9% compared to the previous month and a rise of 26.3% over the same month last year. The municipality of Santa Cruz registered a monthly increase of 2.0% and a year-on-year growth of 19.0%. 

For Portugal, the median value of bank appraisals reached 1,478 euros/square meter in the month of reference, down by 7 euros from the previous month (-0.5%). The year-on-year change was +12.5%. 

Considering the NUTS2 regions of the country, the highest values were recorded in Algarve (2,083 euros/square meter) and in Área Metropolitana de Lisboa (1,983 euros/square meter) followed by the Autonomous Region of Madeira (1,500 euros/square meter).

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

For the calculation of the median value of bank appraisal in February 2023, 439 appraisals were considered, down by 32.3% over the same period of the previous year. Of these, 229 were flats and 210 were houses. Compared to the previous month, the number of bank appraisals went down by 35, corresponding to a decrease of 7.4%.

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