In May 2024
Median value of bank appraisals for housing in the Autonomous Region of Madeira reached 1 847 euros per square meter
According to data released today by Statistics Portugal (INE), in May 2024, the median value of bank appraisals for housing in the Autonomous Region of Madeira (ARM) was 1 847 euros/square meter. This figure represents an increase of 2.8% compared to the previous month - up by 51 euros - and a growth of 16.8% compared to the same month in the previous year, which translates to an additional 266 euros.
For apartments, the median value of bank appraisals in the ARM stood at 1 925 euros per square meter, reflecting an increase of 1.6% compared to April 2024 and a significant rise of 18.3% from May of the previous year. For houses, this indicator was 1,726 euros per square meter, which is 4.1% higher than the previous month and 16.8% higher than the same month a year earlier.
At the municipal level, it is noteworthy that in May 2024, the median value of bank appraisals in Funchal was 2 109 euros per square meter, marking an increase of 0.1% from the previous month and 12.1% from May 2023.
Additionally, the municipalities of Câmara de Lobos and Santa Cruz, surpassing the minimum threshold of observations (33), registered a median value of bank appraisals of 1 734 euros per square meter and 1 751 euros per square meter, respectively. Câmara de Lobos observed a monthly increase of 0.2% and a year-on-year rise of 17.6%, whereas Santa Cruz experienced a monthly increase of 4.0% and a year-on-year growth of 19.0%.
Nationally, the median value of bank appraisals was 1 610 euros per square meter, up by 14 euros (or 0.9%) from the previous month, with a year-on-year growth of 6.6% (an additional 100 euros).
Among the nine NUTS 2 regions of the country, the highest values were recorded in Grande Lisboa (2 350 euros per square meter) and Algarve (2 171 euros per square meter), followed by the ARM at 1 847 euros per square meter. Compared to the same period last year, the ARM (+16.8%) showed the highest positive change and Algarve (+1,6%) showed the lowest. Compared to the previous month, Algarve (+2.9%) led the increases, while the ARA experienced the largest negative change (-4.6%).
Number of bank appraisals increased compared to both the previous month and the same period last year
In May 2024, a total of 700 appraisals were considered, marking a 26.8% increase from the previous year, including 359 for apartments and 341 for houses. Compared to the previous month, the number of appraisals went up by 28, representing a 4.2% increase.
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