Bank appraisals are at a new record in Portugal: The median value of houses increased to 2,254 €/m²

Real estate valuations made by banks within the scope of mortgage loan applications in Portugal have reached a new record.

According to Instituto Nacional de Estatística data, the median bank valuation of residences in August 2026 was 2,254 euros per square meter.

This figure is 14 euros higher than in July.

Compared to the same month last year, the increase is 14.7%.

Approximately 32,700 appraisals were made

Approximately 32,700 bank valuations were taken into account in the calculation of INE data in August.

The number of valuations decreased by 4.1% compared to July, but was 3.1% higher than the same month last year.

Bank appraisal values ​​are especially important for people applying for mortgages.

Because not only the price requested by the seller but also the value the bank attaches to the real estate plays a role in calculating the amount of loan the bank can give.

2.254 euros is not the selling price

Here is the most important distinction when reading data.

The €2,254/m² announced by INE is not the average price of all houses sold in Portugal in August.

It is not the average price requested in real estate advertisements.

This figure is the median square meter value of the appraisals carried out by banks during mortgage loan transactions.

Therefore, it should not be directly compared with square meter prices on listing platforms such as Idealista or real deed sales prices.

Why is it important for mortgage users?

For example a Even if 300 thousand euros is agreed for the house, the bank's appraisal value may be lower than this.

When the bank calculates the loan/value ratio based on its own appraisal, the buyer may be required to bring more down payment.

Conversely, a strong appraisal value may make the buyer's job easier in terms of financing.

Therefore, the bank valuation index is not just an economic indicator that tracks housing prices; It is also important for people who buy a house with a mortgage to access financing.

Annual increase still very high

The 14.7% annual increase in August is slightly below the 15.2% in July.

Therefore, there is a slight slowdown in the rate of increase.

However, the double-digit increase continues.

This data points to the same general picture as the second quarter housing price index announced in the same week: Price pressure has not yet disappeared in the Portuguese housing market.

Resources

Instituto Nacional de Estatística — Avaliação bancária na habitação, August 2026

https://webinq.ine.pt/

RTP — “Avaliação bancária da habitação bate recorde de 2.254 euros por metro quadrado em agosto”, 24 September 2026

https://www.rtp.pt/noticias/economia/avaliacao-bancaria-da-habitacao-bate-recorde-de-2254-euros-por-metro-quadrado-em-agosto_n1767443