SYNTHESIS INE@COVID-19, 7-jul-2020

July . 07 . 2020 page 3/21 Communication Unit | tel: +351 21 842 61 00 | sci@ine.pt www.ine.pt SYNTH SIS IN @ COVID-19 In April, bank appraisals went up by €3 to €1,114 per square metre InMay 2020, the median value of the bank appraisals on housing was €1,114/m 2 (€3more than in April), representing increases of 0.3% concerning the previous month and 8.9% in relation to May 2019. It should be noted that inMay, amid the pandemic, the number of bank appraisals reported (around 19,000), which underlies the results presented, decreased by 21% compared to the same month of the previous year. On a regional level (NUTS II), vis-à-vis the previous month: • Alentejo recorded the largest increase: 3.1%; • The only decline occurred in Região Autónoma da Madeira: -0.5%. The highest year-on-year rate of change for all bank appraisals was in Área Metropolitana de Lisboa (11.2%) and the lowest in Alentejo (2.5%). The analysis by type of housing reveals that, in May, the median value of bank appraisals was €1,212/m 2 for apartments and €953/m 2 for houses, which represents increases of 9.4% and 8.0%, respectively, compared to May 2019. Median value of bank appraisals of apartments and houses (Euros/m 2 ) 1,212 € 953 € 0€ 200€ 400€ 600€ 800€ 1,000€ 1,200€ 1,400€ 1,600€ RAM RAA Algarve Alentejo AM Lisboa Centro Norte Portugal Houses Apartments 1,800€ Still concerning the median value of bank appraisals, but compared to the previous month: • For T2 apartments, the value fell to €1,234/m 2 . For the 3-bedroom apartments, it went up by €1 to €1,094/m 2 . Together, these types accounted for 80.7% of the apartment appraisals carried out in May; • For T2, T3 and T4 houses, which are responsible for 57.4% of the appraisals, the values were €813/m 2 , €849/m 2 and €961/m 2 respectively (€3, €15 and €32 more respectively). The Index of the median value of bank appraisals in May also shows that at NUTS III region level: • Área Metropolitana de Lisboa, Algarve, and Alentejo Litoral presented appraisals values above the country’s median (36%, 33%, and 2% respectively); • Beira Baixa and Terras de Trás-os-Montes presented lower values than the country’s median (-40% in both). More information available at: Survey on bank evaluation on housing (29 June 2020)