Bank assessments of house prices at record €1,449/m2 in November
The median bank appraisal value of the same square metre in June this year was €1,407 and in January €1,292, according to the results of the institute's November survey, released on Wednesday.
Bank assessments of house prices for mortgage applications for purchase increased by €29 in November to €1,449 per square metre, the highest figure since 2011, when the National Statistics Institute (INE) series began.
The median bank appraisal value of the same square metre in June this year was €1,407 and in January €1,292, according to the results of the institute’s November survey, released on Wednesday.
In year-on-year terms, the rate of change in the median value of bank appraisals for housing was 13.9% in November, up from 13.5% in October.
The largest increase in November, compared to the previous month, was recorded in the Centre (2.3%) and the only decrease was in the Autonomous Region of the Azores (-0.6%), according to the data released.
Compared to November 2021, the median value of the evaluations grew 13.9%, with the most significant variation in the Algarve (17.6%) and the lowest in the North (11.7%).
In flats, in November, the median value of bank appraisals of flats was €1,610/m2, having increased by 14.9% compared to November 2021, with the highest figures in the Algarve (€1,993/m2) and in the Lisbon Metropolitan Area (€1,917/m2), and the lowest in the Alentejo (€1,041/m2). The Autonomous Region of the Azores had the highest year-on-year growth (21.6%) and the North the lowest (12.5%).
As for houses, the median amount of bank assessments was €1,148/m2 in November, up 11.3% compared to the same month of 2021, with the highest figures in the Algarve (€2,102/m2) and in the Lisbon Metropolitan Area (€1,996/m2), and the lowest figures in the Centre and Alentejo (€945/m2 and €950/m2, respectively). The Algarve and the Autonomous Region of Madeira had the highest year-on-year growth (19.6%) and the Centre the lowest (10.5%).
The institute, in the November data released today, based on responses to the bank assessment survey on housing, points out that the number of bank assessments considered decreased for the sixth consecutive month, to about 25,600, 13.7% less than in the same period of 2021 and 22.9% less than last May, the month in which the maximum of the series was recorded.
