Bank real estate evaluations creep upwards

Page created: Friday, 23 October 2015 14:28 GMT

Banking Sector  Real estate

The average value of banking evaluations of properties for the purposes of mortgage loans went up 1% in September in annualised terms and up 0.3% month-on-month to total 1,039 euros/square metre, the National Institute of Statistics reported Friday.

The report stated that while the generality of regions saw advances, the banks put up evaluations more strongly in the Alentejo, the Algarve and the Autonomous Region of Madeira rising 1.5%, 1.2% and 2.9% to stand at €921, €1,270 and €1,171 /m2 respectively.

However, contributing most greatly to the overall 1% annualised increased was the Metropolitan Area of Lisbon where property rose to an average of €1,273 /m2, up 2.6% on September 2014.