36
36

Bank Residential Valuations Hold Steady During Pandemic

9 June 2020 – The average value at which banks are valuing homes in the context of mortgage lending in April of this year rose to reach 1,111 euros/m2. The figure is a series high and an increase of 9.5% y-o-y. March, the month in which Portugal decreed a state of emergency, saw the average valuation fall for the first time in four years, to 1,110 euros.

Data from the country’s statistical agency, the INE, demonstrate that bank valuations increased to record levels in several of Portugal’s principal cities. Prices rose to record highs in Lisbon (€3,176/m2), Porto (€1,958/m2), Cascais and Sintra. In others, such as Oeiras and Braga, prices fell month-on-month.

Original Story: Jornal de Negócios – Nuno Carregueiro & Rafaela Burd Relvas

Translation/Summary: Richard D. Turner