1. According to the report from the Instituto Nacional de Estatística (INE), there has been an increase of eight euros per square meter compared to May in Portugal.
2. The median value of bank evaluation for housing reached 1.518 euros per square meter in June, which is an increase of eight euros from May. This represents a year-on-year growth rate of 7.9%.
3. All regions saw increases compared to the previous month. The most significant increase was in the Azores (3.8%), while the smallest was in the Algarve (0.4%).
4. Compared to June 2022, the median evaluation value grew by 7.9%. The most intense variation was in the Madeira region, with a growth of 17.6%, and the lowest was in the Central region (6.2%).
5. In June, the median bank evaluation value for apartments was 1.692 euros per square meter, which is an 8.3% increase compared to the same month the previous year. The highest values were observed in the Algarve (2.160 euros/m2) and the Lisbon Metropolitan Area (2.033 euros/m2). Madeira experienced the most significant year-on-year growth of 23%.
6. For houses, the median bank evaluation value was 1.173 euros/m2, representing a 4.5% increase compared to the same month the previous year. The highest values were in the Algarve (2.115 euros/m2) and the Lisbon Metropolitan Area (2.000 euros/m2). Madeira saw the most significant year-on-year growth of 13%.
The real estate market in Portugal, especially in regions like Madeira, is experiencing significant growth. Madeira, in particular, has seen a remarkable increase in its bank evaluations, with a year-on-year growth of 23.% for apartments and 13% for houses. This data suggests that investing in real estate in Portugal, and especially in regions like Madeira, can be a lucrative opportunity. The consistent growth in property valuation indicates a robust and thriving market, making it an attractive proposition for potential investors and buyers.
Contact DRP Advisers Team to consult about real estate in Madeira.