Lisbon, April 27, 2026 (Lusa) - Average bank valuations for housing in Portugal reached a new historic high of €2,151 per square metre (m²) in March, representing a 16.5% increase compared to the same month in 2025, the INE (National Institute of Statistics) announced on Monday.
The year-on-year increase of 16.5% was lower than the 17.2% recorded in February, according to the INE.
On a month-to-month basis, average valuations, conducted as part of mortgage applications, rose by €29, or 1.4%, compared to February.
INE reported that the Madeira region saw the most significant monthly increase for March at 2.1%, with no decrease recorded.
In comparison with March 2025, the sharpest change was in the Setúbal Peninsula (24.8%).
To calculate the average bank valuation for March 2026, 32,839 valuations were considered (20,397 flats and 12,442 houses), 10.3% fewer than in 2025.
Compared with February, there were 3,214 more bank valuations, representing an increase of 10.8%.
For flats, the bank valuation was €2,511/m², 21.2% higher than in March 2025.
The highest values were recorded in Greater Lisbon (€3,333/m²) and the Algarve (€2,883/m²), while the Alentejo and the Centre regions recorded the lowest values (€1,477/m² and €1,626/m², respectively).
The Setúbal Peninsula recorded the most significant year-on-year growth (26.5%).
Compared to March, the valuation of flats rose by 1.3% in March, with Madeira recording the largest increase (4%) and the Azores the only decline (-6.2%).
The median value of one-bedroom flats rose by €48 to €3,174/m², whilst two-and three-bedroom flats increased by €26 and €13 respectively, to €2,586/m²and €2,170/m².
Overall, these property types accounted for 92.5% of flat valuations carried out during the period under review.
As for detached houses, valuations reached €1,542/m², a year-on-year increase of 12.6%, with Greater Lisbon (€2,838/m²) and the Algarve (€2,755/m²) recording the highest figures, whilst the Centre and the Alentejo regions recorded the lowest figures (€1,144/m² and €1,272/m², respectively).
The Azores recorded the highest year-on-year growth (20%), with no decline observed.
Compared with February, the valuation of houses rose by 0%, with the Azores being the region with the highest growth (3.5%) and a single decrease recorded in the Algarve (-0.2%).
The median value of two-bedroom homes rose by €18 to €1,532/m², that of three-bedroom homes rose by €7 (€1,513/m²) and that of four-bedroom homes by €23, to €1,608/m².
Overall, these property types accounted for 88% of the home valuations carried out during the period under review.
In an analysis by regions, Greater Lisbon, the Algarve and the Setúbal Peninsula recorded the highest valuation figures in March compared to the national average, at 52.4%, 32% and 23.3%, respectively.
In the opposite direction, the regions of Trás-os-Montes, Beiras and Serra da Estrela, and Alto Tâmega and Barroso recorded the lowest figures relative to the national average (-52.3%, -51.3% and -50.7%, respectively).
Bank valuations of residential property calculated by INE take into account dwellings with a gross floor area of between 35 and 600 m² and properties that have been subject to a valuation in connection with a loan application.
PD/MYAL // AYLS
Lusa
