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Average Value of Real Estate in Portugal Increases by 4.2% in One Year
26 February 2018
Bank valuations in January recorded average house prices of 1,153 euros per square meter. Flats registered higher values than houses.
The average bank valuation of residential housing in Portugal stood at 1,153 euros per square meter in January, 4.2% more than in the same period last year, according to the National Statistics Institute (INE).
The banks’ residential housing valuations also showed a month-on-month rise of 0.3% in relation to December 2017, according to the INE.
For flats, the value of the square meter considered in mortgage applications stood at in 1,205 euros in January, 0.4% more than in December. For houses, the average value of the square meter decreased by 0.2%, to 1,065 euros.
Compared with January of last year, the value of apartments rose by 4.9%, while houses grew by 3%, according to INE.
In the total housing market, the average value of bank valuations showed monthly increases of 1.4% in the Autonomous Region of the Azores and 0.9% in the metropolitan area of Lisbon. In Madeira, the value of the square meter fell by 1.9% compared to December. In the Algarve, the price fell by 0.3%.
Original Story: Expresso – Miguel Prado
Translation: Richard Turner