Bank valuations of homes soar 18% in June. Price per square meter hits new record of 1,911 euros
The median bank valuation of homes had never before exceeded 1,900 euros per square meter. That barrier has just been broken, due to an annual increase of more than 18%.
The real estate market in Portugal has just broken another record. The median value at which banks assess the square meter of houses before granting mortgage loans reached 1,911 euros in June.
This represents an increase of more than 18% compared to the same month last year. It is also the first time that the median bank valuation has exceeded 1,900 euros, according to data from INE, the National Statistics Institute.
The information comes from the latest INE Housing Bank Assessment Survey, published on Monday. The statistics office highlights that the number of assessments carried out in June fell by 7.5% compared to May and increased by 2.8% compared to June 2024.
According to INE, it was in the West and Tagus Valley region that the most significant increase in the value per square meter was recorded, in the order of 2.5%. On the contrary, the only decrease was observed in Alentejo (-0.3%).
The median price per square meter for apartments was higher than the national median, standing at 2,208 euros, an increase of 22.9% in June. Greater Lisbon recorded the highest price, at 2,940 euros per square meter, while the most significant year-on-year growth was in the Setúbal Peninsula.
As for houses, the median value was 1,389 euros per square meter, 9.2% more than in the same month of 2024. The highest value was again in Greater Lisbon, where the median valuation per square meter was 2,669 euros, and the highest growth was also in the Setúbal Peninsula, at 17.2%.
