Residential Bank Valuations Rose to €1,236/m2 in September

Residential bank valuations rose by an average of fifteen euros per square metre compared to the month before.

According to data published today by Portugal’s National Statistical Institute, average residential bank valuations, conducted as part of the assessment of mortgage applications, reached 1,236 euros in September. The figure was fifteen euros higher than in August, rising 9.6% y-o-y (vs 8.2% in August), and 1.2% m-o-m (1,221 euros/m2).

According to the INE’s analysis, the average bank valuation of flats in September stood at 1,369 euros/m2, increasing 11.0% y-o-y.  The National Statistics Institute also reported that the average value of houses reached 998 euros/m2 in September, an increase of 4.7% y-o-y.

The analysis considered a total of 28,301 bank valuations in September, 19.4% more than in the same period of the previous year. There were 17,896 valuations of flats and 10,405 houses. There were 1,014 fewer bank appraisals, a decrease of 3.5% y-o-y.