Real Estate Sees Continued Growth as Housing Prices Rise in February

27 March 2018 

The average bank valuation stood at 1,160 euros in February, seven euros higher than in January. This figure represents an increase of 0.6% compared to the previous month and 4.6% vis-à-vis the same month of the previous year.

The National Institute of Statistics (INE) said on Tuesday that the average bank valuations when assessing homes for possible mortgage loans, increased by €7 in February compared to the previous month.

“In February, the average value of bank assessment, carried out for use in mortgage applications for housing acquisitions, rose to 1,160 euros per square meter,” the INE reported.

These data reveal, once again, that the real estate market is continuing its growth, especially in Lisbon and the Azores.

“At the regional level, the highest increases for housing as a whole were in the Autonomous Region of the Azores (1.4%) and the Lisbon Metropolitan Area (1.3%),” the INE stated.

On the other hand, “the only declines occurred in the Autonomous Region of Madeira (-0.6%) and the Centre (-0.4%)”, notes the statistics agency.

In the month under review, the average value of bank assessment for flats stood at 1,213 euros per square meter, while the average for houses reached 1,069 euros per square meter.

Original Story: Notícias ao Minuto – Beatriz Vasconcelos

Translation: Richard Turner