Bank valuation of housing in September increased to 1,541 euros per square meter

The average bank assessed housing price was 1,541 euros per square meter in September, up three euros from August and up 7.8% year on year, the National Institute of Statistics (INE) said on Friday.

In a statement released this Friday, INE said the year-on-year figure slowed from 8.8% in August, with the number of assessments falling by 3.5% to 24,900.

In the reporting month, the median bank valuation of apartments was 1,708 euros/m2 (square meter), up 7.4% from September 2022, with the highest values ​​recorded in the Algarve (2,148 euros/m2) and the Lisbon metropolitan area ( 2047 euro/m2).

On the other hand, Alentejo recorded the lowest rate (1135 euro/m2), with the Autonomous Region of Madeira showing the most significant increase year-on-year (30.6%) and the Autonomous Region of the Azores the lowest (4.4%) . .

“The average price of T2 apartments fell by 11 euros, to 1,720 euros/m2, while T3 rose by seven euros, to 1,525 euros/m2,” INE notes, adding that “these typologies account for 78.3% of apartment valuations.” carried out in the analyzed period.”

In terms of housing, INE indicated an average bank valuation of €1,198/m2, up 5.5% on the same month, with the highest values ​​observed in the Algarve (€2,169/m2) and the Lisbon metropolitan area (2080 euro/m2). euro/m2).

Centro and Alentejo recorded the lowest values ​​in this area (973 euros/m2 and 1043 euros/m2 respectively).

The Autonomous Region of the Azores showed the highest year-on-year growth (17.2%), with no region recording a decline.

INE explains that to reach the bank’s median valuation, 24,929 valuations were reviewed in September this year (16,178 apartments and 8,751 houses), which is 3.5% less than in the same period in 2022.

Compared to August, 324 more bank assessments were carried out, which corresponds to an increase of 1.3%.