According to data presented yesterday by the National Statistics Institute in its Survey on Residential Bank Valuations, the average value of bank valuations reached 1,285 euros per square meter in December, 13 euros more than the previous month, an increase of 1.0% m-o-m (1 272 euros/m2). The rate of change stood at 11.2%, the same as in November. The number of bank appraisals rose to around 30,000, 14.8% more than in the same period of the previous year. The median valuation stood at 1,231 euros/m2 in 2021, a 9.0% increase y-o-y.
The Autonomous Region of the Azores saw the largest monthly growth (2.6%), while the Autonomous Region of Madeira posted the largest decrease (-1.2%). Average valuations rose by 11.2% y-o-y, with the largest increase in the Algarve (12.9%) and the smallest in the Autonomous Region of the Azores (3.4%).