Home banking valuation increases 6.3% to new high

The median bank valuation of housing in Portugal stood at 1,144 euros per square meter (euros / m2) in November, 1.1% or 13 euros more than in October, and 6.3% more homologous until November 2019 The amount released this Tuesday by the National Institute of Statistics (INE) corresponds to a new historical maximum for the valuation of goods for the purposes of granting credit.

According to the November Internal Bank Valuation Survey, the number of bank valuations taken into account stood at around 27,000, which is 8.2% more than the same period last year. which shows an increase in new credit applications. for the purchase of a home.

Banks remain confident about home values, an optimism that contrasts with the drop in selling prices observed in September.

Regarding the banking valuation of homes in November, the largest increase compared to the previous month was recorded in the Autonomous Region of Azores (1.1%) and the only decrease was observed in the Autonomous Region of Madeira (-0.1%). On a year-over-year basis, the most intense positive variation was observed in the Algarve (+ 7.3%) and the weakest in the Autonomous Region of Madeira (+ 2.5%).

By segment, the average valuation of apartments amounts to 1,252 euros / m2, up 7.1% compared to the same month of the previous year. The highest value was observed in the Algarve (1552 euros / m2) and the lowest in Alentejo (855 euros / m2). Compared to the previous month, the value of appreciation increased by 1%, with the Autonomous Region of Azores having the largest increase (4.6%) and the Autonomous Region of Madeira the largest decrease (-0.3% ).

In housing, the average value of the bank valuation in these cases was 954 euros / m2 in November, which is an increase of 4.6% compared to the same month of the previous year. The highest values ​​were observed in the Algarve (1594 euros / m2) and in the Lisbon metropolitan area (AML) (1555 euros / m2), with the Center recording the lowest value (796 euros / m2).

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