House valuations rise sharply in Spain.
Property values in Portugal rose sharply in May. The median bank valuation increased by 17.1% compared to the previous year. More people are asking for property valuations for mortgages.
In May, Portugal saw a significant rise in housing valuations. The median bank valuation reached 2208 euros per square meter. This increase is according to data from the INE. Property valuations increased by 29 euros per square meter between February and March. There was a 10% rise in requests for property valuations for mortgage applications.
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Highlights
Bank Valuations Rise Significantly
Property valuations in Portugal increased by 29 euros per square meter between February and March.
Record Valuation in May
Housing valuations reached a new record of 2208 euros per square meter in May.
Median Value Increase
The median value rose by 16.5% compared to the previous year.
Increase Compared to 2023
The median bank valuation increased by 17.1% compared to May 2023.
More Valuation Requests
There was a 10% increase in requests for property valuations for mortgages.