House prices in Portugal hit €1,314 /m2 in February
For this calculation, the number of bank valuations considered was 29,000, 24.2% more than in the same month of 2021.
The average bank valuation in housing rose in February to a new historic high of €1,314 per square meter (m2), a year-on-year increase of 11.9% and €22 more than in January, the INE said.
For this calculation, the number of bank valuations considered was 29,000, 24.2% more than in the same month of 2021. Statistics Portugal used 29,000 valuations to reach the figure it said on Friday, 24% more than in January.
In February, the largest increase in the bank valuation compared to January was recorded in Alentejo (2.6% to €903). The only region that showed a negative month-on-month variation was the Autonomous Region of Madeira (0.2% down to €1,292).
In turn, in year-on-year terms, compared to the same month in 2021, the highest increase was in the Algarve (19% to €1,811) and the lowest in Alentejo (7.9% to €903).
Also in February, the evaluation of flats was €1,462 per m2, 13.2% more than in February 2021 and 1.7% compared to the previous month.
The highest value of flats was in the Algarve (€1,803 per m2) and the lowest in Alentejo (€933 per m2).
As for houses, the bank evaluation was €1,047 per m2 in February, up 7.4% compared to the same month last year and 1% more than in January.
The highest values were observed in the Algarve (€1,830 per m2) and the Lisbon Metropolitan Area (€1,792 per m2), with the Centre registering the lowest value (€875 per m2).
According to the median banking appraisal value index, in February, the Algarve and the Lisbon Metropolitan Area presented appraisal values above the country’s median (38% and 34%, respectively).
The Beiras and Serra da Estrela region continued to show the lowest value concerning the country’s median (-48%).