According to data from the INE, the Setúbal Peninsula recorded the largest increase (23.0%), while the Azores Autonomous Region recorded the smallest (11.9%).

By type of accommodation, last year, the median bank appraisal value, carried out within the scope of loan applications for housing acquisition, increased by 21.0% for apartments and 11.5% for houses, to €2,239/m2 and €1,435/m2, respectively (€1,851/m2 and €1,287/m2 in 2024).

Considering only December 2025, the median bank appraisal value increased by €21 (1.0%) from the previous month to €2,081/m2, standing 19.1% above December 2024 (18.4% in November).

The number of appraisals considered for determining the median value in December was 34,496 (21,488 apartments and 13,008 houses), 7.2% less than in the same period last year.

Compared to November, there were 1,786 fewer bank appraisals, corresponding to a decrease of 4.9%.

Greater Lisbon recorded the largest increase in median bank appraisal value compared to the previous month (1.7%), while the Azores recorded the only decrease (-0.1%).

Compared to December 2024, the median appraisal value increased by 19.1%, with the largest increase recorded in the Setúbal Peninsula (27.3%) and no reductions observed.

In the month under analysis, the median bank appraisal value for apartments was €2,415/m2, up 23.1% from December 2024.

The highest values ​​were recorded in Greater Lisbon (€3,199/m2) and the Algarve (€2,758/m2), while the Alentejo and Central regions recorded the lowest values ​​(€1,487 and €1,548/m2, respectively).

In turn, the Setúbal Peninsula recorded the most significant year-on-year growth (29.2%), with no decreases.

Compared to November 2025, the appraised value of apartments rose by 1.1%, with the Azores registering the largest increase (2.8%) and the Alentejo the largest decrease (-3.6%).

The median appraisal value for one-bedroom apartments (T1) decreased by €10 to €3,113/m2, while two- and three-bedroom apartments (T2 and T3) increased by €30 and €43, respectively, to €2,495/m2 and €2,090/m2.

Together, these apartment types accounted for 92.8% of the apartment appraisals conducted in December.


Regarding the median value of bank appraisals of homes, it was €1,516/m2 in the last month of 2025, up 14.7% year on year.

The highest values ​​were observed in Greater Lisbon (€2,751/m2) and the Algarve (€2,629/m2), while the Central region and Alentejo recorded the lowest values ​​(€1,114 and €1,213/m2, respectively).

The Setúbal Peninsula showed the highest year-on-year growth (10.3%), with no decreases.

Compared to the previous month, in December the appraisal value of homes rose by 1.1%, with Madeira showing the highest growth (5.2%) and the only decrease occurring in the West and Tagus Valley (-0.1%).

The median value of two- and three-bedroom houses increased by €16 in both categories, to €1,511/m2 and €1,480/m2 respectively, while that of four-bedroom houses decreased by €2, to €1,575/m2.

Taken together, these property types accounted for 88.1% of housing valuations during the period under analysis.

In December 2025, Greater Lisbon, the Algarve, and the Setúbal Peninsula presented valuation values ​​higher than the national median by 51.1%, 31.0%, and 21.1%, respectively.

Conversely, Alto Tâmega e Barroso, Terras de Trás-os-Montes, and Alto Alentejo were the regions that presented the lowest values ​​in relation to the national median (-52.7%, -52.1%, and -51.0%, respectively).