Bank valuation of housing rises to €1,518 per m2 in June

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The median value of bank appraisals in housing was 1,518 euros per square meter in June, eight euros more than in May, with a year-on-year rate of change of 7.9%, INE announced today.

According to the Survey on Bank Valuation in Housing, in June “the median value of bank valuation, carried out in the context of credit applications for the acquisition of housing, stood at 1,158 euros per square meter, having increased by 8.0 euros (0.5%) compared to May”.

In year-on-year terms, the rate of change stood at 7.9% (9.4% in May).

“It should be noted that the number of bank appraisals decreased by 1.4% compared to the previous period, standing at around 23 thousand, “which represents a reduction of 21.3% compared to the same period of the previous year”, says the National Statistics Institute (INE).

All regions registered “increases compared to the previous month”, with the most expressive in the Autonomous Region of the Azores (3.8%) and the lowest in the Algarve (0.4%).

Compared to June 2022, “the median value of valuations grew by 7.9%, with the most intense variation in the Autonomous Region of Madeira (17.6%) and the lowest in the Center (6.2%).

In June, the median bank appraisal value of apartments was €1,692 per square meter, an increase of 8.3% compared to the same month last year.

“The highest values were observed in the Algarve (2,160 euros / m2) and in the Lisbon Metropolitan Area (2,033 euros / m2), with the Alentejo registering the lowest value (1,103 euros / m2)”, while Madeira had a year-on-year growth “more expressive (23.0%) and the Center the lowest (7.3%)”, he adds.

As regards houses, the median bank appraisal value was €1,173/m2, “which represents an increase of 4.5% compared to the same month of the previous year”.

The highest values are recorded in the Algarve (2,115 €/m2) and the Lisbon Metropolitan Area (2,000 €/m2).

The lowest are in Centro and Alentejo (947 €/m2 and 1,006 €/m2). Madeira showed the highest year-on-year growth of 13%, “with no reductions recorded in any region”.

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