Average Bank Appraisals at €1,458 per Square Meter in December
Atualizado: 6 de fev.
In December 2022, the average bank appraisals on housing was 1,458 euros, 9 euros more than the value verified in November. In year-on-year terms, the rate of change stood at 13.5% (13.9% in November). This is the most recent data advanced by INE (The National Institute of Statistics). It should be noted that, for the seventh consecutive month, the number of bank assessments were reduced… They stood at around 24,200, which corresponds to a reduction of 20.2% compared to the same period of the previous year. Bank appraisal of apartments The average value of bank appraisals on apartments, in the month under review, was 1,633 euros/m², having increased by 15.1% compared to December 2021. Algarve (2,026 euros/m²) and the Metropolitan area of Lisbon (1,939 euros /m²) registered the highest values, while Alentejo registered the lowest value, indicates the INE. In terms of bank appraisals on apartments, the Autonomous Region of Madeira had the most expressive year-on-year growth (18.5%), with the lowest (13.2%) occurring in the North. Bank valuation of houses In December, the average value of the bank appraisals of houses was 1,148 euros/m², which is equivalent to an increase of 11.5% in relation to the same month of the previous year. The highest values were observed in the Algarve (2,115 euros/m²) and in the Metropolitan area of Lisbon (1,997 euros/m²), while the Alentejo and the Center registered the lowest values (951 euros/m² and 960 euros/m² euros/m², respectively). The Autonomous Region of Madeira had the highest year-on-year growth (21.7%) and the lowest occurred in the North (10.2%), according to data provided by the National Institute of Statistics.
Median price per m² rose 13.7% in 2022 With the end of 2022, INE also revealed that the average appraisal value for the year was set at 1,400 euros/m². This value translates into an increase of 13.7% compared to 2021. In terms of appraised value in all NUTS II regions , growth was also observed, with the Algarve registering the most intense variation (16.7%) and the Autonomous Region of the Azores the smallest increase (8.8%). The NUTS - Nomenclature of Territorial Units for Statistical Purposes are the regional divisions existing in all member states of the European Union, being used by Eurostat for the elaboration of all regional statistics and by the European Union in the definition of regional policies and allocation of funds of cohesion. NUTS II is made up of seven units / regions, five of which are on the mainland and the territories of the Autonomous Regions of the Azores and Madeira. Feel free to schedule a call at your convenience on our calendar through Calendly and let’s see where our team and I can add value to your home purchase or investment in Portugal. Link to schedule call on Calendly
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