According to data from the National Statistics Institute (INE), the Autonomous Region of Madeira showed the most intense variation (20.2%) and Central Portugal had the smallest increase (6.2%).

Last year, the median bank appraisal value, carried out as part of credit applications for the purchase of housing, increased by 8.7% for apartments and 6.2% for houses, to, respectively, 1,693 euros/m2 and 1,185 euros /m2 (1,558 euros/m2 and 1,116 euros/m2, in 2022).

The West and Tagus Valley region showed the most significant increase compared to the previous month (2.1%), with a single decrease being recorded in the Autonomous Region of the Azores (-0.2%).

Compared to December 2022, the median value of assessments grew 5.3%, with the most intense variation being observed in the Autonomous Region of Madeira (15.5%) and the lowest in the Algarve (0.9%).

The highest values were recorded in Greater Lisbon (2,277 euros/m2) and in the Algarve (2,054 euros/m2), with Central recording the lowest value (1,130 euros/m2).

In turn, the Madeira region showed the most significant year-on-year growth (17.4%) and the Azores the only decline compared to the same period of the previous year (-2.7%).

Compared to November, the appraised value of apartments rose 0.4%, with Oeste and Vale do Tejo recording the biggest increase (1.2%) and the Algarve the biggest decrease (-0.5%).

The median assessment value for a two-bedroom apartment rose by 13 euros, to 1,750 euros/m2, with three-bed apartments falling by one euro, to 1,504 euros/m2.


Altogether, these typologies represented 80.1% of apartment valuations carried out in December.

As for the median value of the bank valuation of homes, it was 1,210 euros/m2 in the last month of 2023, which represents a year-on-year increase of 5.4%.

The highest values were observed in Greater Lisbon (2,196 euros/m2) and in the Algarve (2,088 euros/m2), with Central and Alentejo recording the lowest values (937 euros/m2 and 990 euros/m2, respectively).

Alentejo showed the highest year-on-year growth (13.3%), with reductions recorded in the Algarve (-1.3%) and Greater Lisbon (-0.5%).

Compared to the previous month, in December the assessed value of houses rose 0.9%, with Oeste Vale do Tejo and Alentejo showing the highest growth (3.7% both), with the sharpest decline occurring in Azores (-1.7%).

The median value of T2 homes rose by 24 euros to 1,174 euros/m2, with T3 types rising by 17 euros to 1,204 euros/m2, and T4s falling by four euros, to 1,238 euros/m2.


Altogether, these typologies represented 89.8% of housing assessments carried out in the period under analysis.