The value of houses calculated by banks at the time of granting loans for the purchase of housing registered the biggest jump ever in June, shooting up by 27 euros last month to 1,407 euros per square metre, the highest value ever recorded since National Statistics Institute (INE) records first began.
The average value of the bank assessment is based on surveys carried out by banks in the context of granting housing credit to families.
Since August of last year, the bank valuation of houses has remained at a strong high, that is, it has been rising for almost a year, which demonstrates the confidence of financial institutions in loans for the purchase of housing, despite the new context of high-inflation, war in Ukraine, European Central Bank (ECB) interest rate tightening and the threat of a recession.
With these values, a house of 100 square metres will be valued by banks at 140,700 euros on average across the country, with differences in values from region to region.
With the only exception being the Autonomous Region of the Azores (-7 euros), all other regions registered monthly increases, with the biggest being observed in the Algarve (+55 euros to 1,895 euros per square metre) and Lisbon (+41 euros to 1,870 euros).
The North region had an increase of 25 euros and Madeira of 24 euros, moving to valuations of 1,200 and 1,360 euros per square metre, respectively. In the Alentejo and Centre, the increases were 14 and 7 euros.