Bank evaluations of homes rise in July

  • ECO News
  • 29 August 2018

The price per square meter increased yet again, in July, to €1.187, a difference of seven euros from the previous month, the National Statistics Insititute (INE) showed this Wednesday.

Bank evaluations of homes have risen, reaching €1,187 per squared metre in July, seven euros more than in June, the country’s National Statistics Institute said on Wednesday.

Bank appraisals reached the highest level seen in the past 12 months in July, according to the statistics body.

In June, property valuation had reached a record high of €1.180 per square meter, the highest value since 2008, accounting for a 6.1% increase in comparison to May 2017.

Compared to June, the average value of the evaluation of apartments rose five euros to €1,243 per squared metre in July, while the average value of the evaluation of houses rose €13 to €1,090 per squared metre.

Apartments in the southern touristic Algarve region saw the highest rise of bank evaluations (1.6%) while the Azores islands and Madeira were the only regions to face decreases of 2.1% and 0.1% respectively.

Source: Lusa