The median value per square meter was fixed at 1,420 euros per square meter, nine euros less than in September.
Looking at the country, the biggest increase compared to the previous month was registered in the Autonomous Region of Madeira (2.2%) and the only decrease was in the North (-0.2%), indicates the INE. If the comparison is made with October of last year, the median value of evaluations grew by 13.5%, with the Algarve registering the highest variation (18.8%) and the North the lowest (10.7%).
INE points out that “the number of bank assessments considered decreased for the fourth consecutive month, standing at around 25.6 thousand, which represents a reduction of 8.6% compared to the same period of the previous year and 22.7% less than in last May, the month in which the maximum of the series was registered”. These data should already reflect the slowdown in mortgage loans, which has been observed for three consecutive months according to Bank of Portugal statistics.
As for apartments, the median bank valuation value was 1,581 euros/m2, 14.2% more than in October 2021 and 0.6% less compared to the previous month. “The highest values were observed in the Algarve (1,967 euros/m2) and in the Lisbon Metropolitan Area (1,878 euros/m2), with the Alentejo registering the lowest value (1,033 euros/m2)”, notes the statistics office.
By typology, the median value of the valuation for a T2 decreased by eight euros, to 1,599 euros/m2, with a T3 having dropped by two euros, to 1,400 euros/m2. These typologies represented 78.6% of apartment valuations carried out in the period under review.
As for houses, the median value of the bank valuation was 1,142 euros/m2 in October, having increased by 13.1% in relation to the same month of the previous year and by 0.5% compared to September. “The highest values were observed in the Algarve (2,079 euros/m2) and in the Lisbon Metropolitan Area (2,009 euros/m2), with the Center and Alentejo registering the lowest values (927 euros/m2 and 937 euros/m2, respectively)”.
Most expensive regions
In the analysis by regions, it is possible to see that the Algarve, Área Metropolitana de Lisboa, Alentejo Litoral, and Região Autónoma da Madeira have the most expensive houses, having presented valuation values of 40.0%, 33.8%, 13, 3% and 0.8%, respectively, higher than the country's median. Alto Tâmega was the region that presented the lowest value in relation to the median of the country (-47.0%).