Portugal property prices at new high

Desk Report: The value of houses calculated by banks when granting loans for the purchase of housing rose in March for the fourth consecutive month, increasing by 20 euros to 1,580 euros per square metre, a new maximum. Source: The Portugal News.

The average value of the bank assessment is based on surveys of banks in the context of granting mortgage loans.

With these values, a 100 square meter house will be valued by banks at 158,000 euros for a national average - there are differences in values from region to region and also by type of housing.

INE says that the number of bank assessments increased again, after falling in the first two months of the year, standing at 30,523 assessments (19,499 apartments and 11,024 houses) in March. This was an increase of 40.9% compared to March 2023.

Biggest increase

The Setúbal Peninsula region recorded the biggest increase in the bank valuation of houses, with an increase of six euros to 1,794 euros per square meter, followed by the North region, which had an increase of 22 euros to 1,366 euros per square meter.

In Greater Lisbon, where the highest valuations are found, there was an increase of 12 euros to 2,312 euros per square meter, and in the Centre, the increase was 14 euros to 1,074 euros per square meter. In the regions of Oeste and Vale do Tejo (+7 euros/m2) and the Azores (+6 euros/m2) there were also increases in March.

The exceptions were the regions of Alentejo (-2 euros/m2), Algarve (-9 euros/m2) and Madeira (-1 euro/m2).

By type of housing, the average bank valuation of houses in the country increased by nine euros to 1,239 euros per square meter, and apartments increased by 18 euros to 1,759 euros per square meter.

Biniyougbarta/SAM//