Banking Valuations of Homes Skyrocket in March: Up 5.4% in One Year

2 May 2018

In March, the average value of home bank valuations realised within the scope of applications for mortgage loans, rose to 1,167 euros per square meter (m2). This is an increase of seven euros per m2 (0.6%) compared to February and 60 euros per m2 (5.4%) year-on-year. It is the highest value since 2011.

“When compared to the previous month, the average value of flats increased by five euros to 1,218 euros per m2 in March. For houses, there was an increase of eight euros, to 1,077 euros per m2. At the regional level, the highest increases for the housing sector were registered in the Autonomous Region of the Azores (2.5%) and the North (1.0%). There were declines in the Alentejo (-0.8%), in the Autonomous Region of Madeira (-0.2%) and the Lisbon Metropolitan Area (-0.1%),” the National Statistics Institute (INE) reported.

Bank appraisals of flats and houses increased by 5.5% and 5%, respectively, with the highest year-on-year rate of change for all assessments in the North (7.8%) and greatest decrease in the Alentejo (2.5%).

Original Story: Idealista

Photo: Creative Commons

Translation: Richard Turner