The price at which banks value properties within the scope of housing credit processes fell in October, after having reached, in the previous month, the highest value ever.According to data from the National Statistics Institute (INE), the median value of bank valuation was fixed at 1,420 euros per square meter in October, which represents a drop of 0.6% compared to the historical maximum of 1,429 euros reached in September. This was already the second decrease in a chain in the space of three months, since, in August, this indicator decreased for the first time since the start of the pandemic. The biggest increase compared to the previous month was registered in the Autonomous Region of Madeira (2.2%) and the only decrease was seen in the North (-0.2%).However, in year-on-year terms – that is, in comparison with the same month last year – the bank assessment rose 13.5% in October. In this analysis of the last 12 months, the most expressive growth occurred in the Algarve (18.8%) and the lowest in the North (10.7%). decrease in the value assigned by banks to apartments, since, in the case of houses, the value even rose in October. down 0.6% to 1.581 euros per square meter, 10 euros less than the maximum recorded in September, of 1,591 euros per square meter. da Madeira (2.9%). With regard to typologies, the decrease in bank valuation was transversal: the median value of apartments T2 dropped 8 euros to 1,599 euros per square meter, and that of apartments T3 dropped 2 euros to 1,400 euros per square meter. As a whole, these typologies represented 78.6% of apartment valuations carried out in the period under review. Comparing with the same month last year, the bank valuation increased by 14.2%, since, in October 2021, the median value of apartments was 1,385 euros per square meter. In the last 12 months, the biggest increase happened in the Autonomous Region of the Azores (22.3%), where the value of apartments went from 1,179 to 1,442 euros per square meter, and the smallest increase in the Autonomous Region of Madeira (9.7% ). There, the median value of apartments rose from 1,319 to 1,447 euros per square meter. As in previous months, the highest values were recorded in the Algarve (1,967 euros/m2) and in the Lisbon Metropolitan Area (1,878 euros/m2) and the lowest in Alentejo (1,033 euros/m2).
Houses: Alentejo leads climbs
Contrary to what happened with the apartments, the bank valuation of houses rosein October, for the second consecutive month, to 1,142 euros per square meter, the highest level since there are records. This value represents an increase of 0.5% compared to September, that is, an increase of 6 euros per square meter. T4 houses that the appreciation was more expressive, with the median value increasing by 11 euros to 1,238 euros per square meter. In T3 houses, the bank valuation rose by 4 euros to 1,112 euros per square meter, and in T2 houses it dropped by 11 euros to 1,107 euros per square meter. Alentejo presented the most accentuated growth (3.3%), remaining, however, as the second region in the country with the lowest values for housing (937 euros/m2), after the Center (927 euros/m2). On the other hand, the less expressive increase occurred in Autonomous Region of Madeira (0.2%).In homologous terms, the bank valuation of houses increased by 13.1%, with the Alentejo positioning itself, in this analysis, at the bottom of the table, with the lowest growth of the last 12 months (9.1%). The Algarve, which already has the highest median house price in the country (2,079 euros/m2) was also the region with the biggest increase compared to October 2021 (25.4%). are already in effect