The median value at which banks value real estate for the purpose of granting credit fell to 1,110 euros in March. The effects of the pandemic are already being felt ...
The median value of the real estate market in Portugal falls
When you apply for a credit in PortugalThe banks proceed to an evaluation of this one in order to be able to allot you an amount of loan, it happens that following health crisis that we cross, this median value has just undergone its first fall during the last four years.
According to the National Institute of Statistics (INE), the value of the square meter amounted to 1,110 euros in March, interrupting a cycle of growth that had lasted 48 months . The data of INE's statics differ, however, from those published in previous months, justifying them by changes in the methodology of calculation.
The median value of the banking expertise was in March of 1 110 euros, that is to say a fall of 0,1 % compared to February, however it is necessary to relativize this fall, because compared to the same period of the last year, it represents an increase of 10,3 %.
This decline in the real estate market in Portugal is not reflected everywhere
This decline is mainly in the north of the country, more precisely in the northern and central regions, where the median property value was respectively 960 and 818 euros / m2, with a decrease of 0.2 % and 0.6 % compared to February. The Alentejo region also saw this indicator fall by 1.7 %, to 804 euros / m2.
During the month of March, the values of real estate in Portugal from the metropolitan area of Lisbon and the Algarve were set at 1,483 euros / m2. They recorded increases of 0.2 % and 1.2 %, respectively, compared to the February figures.
However, the largest increases were recorded in the autonomous regions of Madeira (+ 2.2 %) and the Azores (+ 1.3 %), at 1,138 and 908 euros / m2.