Average bank valuations were 21 euros higher than in the previous month.
According to data published today by the National Institute of Statistics in its Survey of Residential Bank Evaluations, the average bank valuation, performed by banks during mortgage applications, reached 1,272 euros per square meter (euros/m2) in November, up 1.7% m-o-m (1,251 euros/m2).
Compared to the previous month, every region in Portugal showed increases except for the Alentejo and the Autonomous Region of Madeira, which held steady. The largest increases were in the Centre and the Algarve (2.2% and 2.1%, respectively). The average valuation increased 11.2% year on year, with the highest rise in the Metropolitan Area of Lisbon (11.1%) and the smallest in the Autonomous Region of the Azores (0.5%).
According to the report, the Algarve, the Lisbon Metropolitan Area, the Alentejo Litoral, and the Autonomous Region of Madeira posted above-average pricing compared to the rest of the country (34%, 32%, 4%, and 1% respectively). Beiras and Serra da Estrela had the lowest valuations (-47%).