The average bank appraisal value in Portugal reached 1,215 euros per square meter (m2) in November, three euros (0.2%) more than in the previous month and 71 euros (6.2%) more than in the same period of the previous year. According to the National Statistics Institute (INE), the value has been rising for 20 months in a row - since April 2017 - and is at its highest since 2008.
In the case of apartments, the average bank valuation remained unchanged in monthly terms at 1,277 euros per m2, which represents a year-on-year increase of 7%. On the other hand, the average bank valuation of houses rose by five euros to 1,115 euros per m2 in November compared to October and by 4.8% compared to November 2017.
“At regional level, the biggest increase for housing as a whole was in the Autonomous Region of the Azores (0.7%), with the sharpest drop in the Alentejo (-1.5%),” concludes INE.
According to the entity, the highest value for apartments was in the Algarve region (1,589 euros per m2) and the lowest in the Alentejo (1,015 euros per m2). In the case of houses, the highest values were in the Lisbon Metropolitan Area (1,560 euros per m2) and the Algarve (1,533 euros per m2) and the lowest in the Center (965 euros per m2).
Source: idealistanews