Banks have been increasing the evaluation of houses for a year, non-stop. It stands in maximums of 2010

  • ECO News
  • 28 May 2018

The value for the banking evaluation stood at an average of 1,171 euros per square meter in April of this year, the highest amount since June of 2010.

The price at which banks assess houses in Portugal for the purpose of granting credit has increased again. The banking assessment has been increasing consecutively for one year: in April of this year, it stood at an average of 1.171 euros per square meter, the highest amount since the Summer of 2010.

These data are disclosed by Statistics Portugal (INE), revealing that the average value for the banking evaluation of 1,171 euros in April represents a 0.3% increase in comparison to March and of 5.5% in comparison to the same month of last year. This was the 13th consecutive month of increases in prices and this is the highest amount since June of 2010, when the average value of bank appraisals on housing stood at 1,176 euros per square meter.

From March to April, the largest increases were seen in the Azores and Madeira islands, where the average value for banking appraisals increased 1.99% and 1.89%, respectively. On the contrary, the North and Center regions in Portugal registered plunges, of 0.28% and 0.42%, respectively.

Considering just apartments, the average amount of banking appraisals increased by 0.5% to an average of 1,224 euros per square meter. As for dwellings, the value fell by 0.28%, standing at an average of 1,074 euros per square meter.