Bank valuations of houses increased in May by 6.6% to 1,610 euros/m2

The median bank assessed home value rose by 14 euros (0.9%) in May compared with April and by 100 euros (6.6%) year on year, to 1,610 euros per square meter (m2), it was reported on Wednesday. Fair, National Institute of Statistics (INE).

The median value of bank valuations carried out as part of home loan applications has increased consistently since December 2023.

The quarter-to-quarter deviation of 0.9% recorded in May was slightly lower than the April one (1.0%), as was the year-to-year deviation (6.6% in May versus 7.0% in April).

The highest bank valuation was in Greater Lisbon (2350 euros/m2) and the lowest in the Center (1094 euros/m2).

In apartments, the median price was 1,780 euros/m2, an increase of 0.6% compared to April and 5.4% compared to May 2023.

In housing, the cost was 1263 euros/m2, which is 1.2% more than in April and 9.5% more than the same month of the previous year.

In May, the Algarve showed the most significant growth compared to the previous month (2.9%), while the sharpest decline was observed in the Autonomous Region of the Azores (-4.6%).

Compared to its peers, the most intense changes occurred in the Autonomous Region of Madeira (16.8%), although there was no decrease.

In the May 2024 NUTS III region analysis, Greater Lisbon, Algarve, Madeira Autonomous Region, Setúbal Peninsula and Alentejo Littoral presented estimated values ​​of 46.0%, 34.8%, 14.7%, 14.0% and 10.9. %, respectively, is higher than the national median.

In contrast, Alto Alentejo, Beiras and Serra da Estrela, as well as Alto Tamega and Barroso were the regions that presented the lowest values ​​relative to the national median (-50.0%, -47.2% and -45. 7% respectively).

The number of bank assessments in May amounted to 32,781 (20,923 apartments and 11,858 houses), which is 40.5% more than in the same period last year (in May 2023 there was a decrease of 29.6% compared to last year) and 2.9% higher than April.