Banks “inflate” the estimated value of housing. According to data from the National Institute of Statistics (INE), published this Monday, the median bank price of housing in March 2024 was 1,580 euros per m2, 20 euros more than in February. If we go back to the beginning of 2024, we will see that the average cost of m2 of housing increased by 14.6 euros every month.
The average cost of apartments was 1,759 euros (an increase of 5.7% compared to March 2023). The highest values were observed in Greater Lisbon (2323 euros/m2) and in the Algarve (2092 euros/m2).
For houses, the average valuation in March was €1,239/m2, representing an increase of 9.2% compared to the same month the previous year.
As for higher figures, Greater Lisbon recorded a record of 2,323 euros per m2. The average price of T2 houses increased by 23 euros, to 1231 euros/m2, while T3 types increased by 4 euros, to 1225 euros/m2, and T4 types by 24 euros, to 1288 euros/m2.
These values were achieved through 30,523 bank valuations (19,499 apartments and 11,024 houses).
Regarding the evolution of housing prices, based on the housing price index calculated by Confidencial Imobiliário, it appears that prices increased by 2.2% in the 1st quarter of 2024 compared to the previous quarter, showing an acceleration compared to 1. 6. % recorded in the 4th quarter of 2023.
Author: Miguel Alexander Gagnan([email protected])
Source: CM Jornal
I’m Tifany Hawkins, a professional journalist with years of experience in news reporting. I currently work for a prominent news website and write articles for 24NewsReporters as an author. My primary focus is on economy-related stories, though I am also experienced in several other areas of journalism.