Portugal Bank Property Valuations Reach Record High in June

The average bank valuation for property in Portugal hit an all-time high of €2,228 per m2 in June 2026. This is 16.6% year-on-year (YoY) growth and €20 higher than in May 2026.

Bank valuations are a major part of the mortgage-lending process, so rising valuations can affect how much a bank is willing to lend relative to a property’s value.

According to Statistics Portugal (INE), the Azores recorded the sharpest year-on-year growth by region at 24.0%, reaching a total median of €1,697 per square meter. Here’s what the latest data means for locals and foreigners seeking a mortgage in Portugal.

Portugal Bank Property Valuations: Median Values

Portugal’s bank property valuations reached a new record in June 2026 of €2,228 /m2. The national median stood at €20 more and a 0.9% jump from May that same year.

On a year-on-year basis, bank appraisals on housing in Portugal increased by 16.6%, which reached 17.1% in May 2026, published Portugal’s National Institute of Statistics (INE) in the latest survey.

It’s also important to point out that the number of bank appraisals fell 5.5% from the previous period, to approximately 33,600. Despite the monthly decline, this was still 3.0% higher than the number recorded during the same period a year earlier.

To calculate these median values for bank appraisals, INE used a total of 33,595 valuations, of which 12,702 were detached houses (or villas), and 20,893 were flats (or apartments) in Portugal. This total represents a 3.0% increase compared to the same period in the previous year.

Source: Statistics Portugal (INE – Instituto Nacional de Estatística)

Bank Valuations for Apartments in Portugal

For apartments, the median bank valuation reached €2,613 per square meter in June 2026 (i.e., 18.3% growth from June 2025). For this type of property, the bank valuations in the Azores reached €2,400 per square meter (25.7% year-on-year), while in Madeira, that figure was €2,885 per square meter (18.8% year-on-year).

The highest bank appraisal values for residential properties in Portugal were recorded in Greater Lisbon, at €3,411 per square meter, and the Algarve, with €2,988 per square meter.

At the other end of the spectrum, Central Portugal and the Alentejo region saw the lowest bank valuations, at €1,713 and €1,711 per square meter, respectively.

Bank Valuations for Houses in Portugal

As for houses or villas, the median value of bank appraisals reached €1,600 per square meter in June 2026, a 15.2% increase from the same month the year prior.

For the same type of property, the Autonomous region of Azores saw a 19.1% year on year increase (€1,560 /m2), where in Madeira, there was a 17.3% jump (€2,180 /m2).

The INE report explicitly notes that for detached houses, the West and Tagus Valley region recorded the highest year-on-year growth at 19.3%, with no declines observed. Compared with May, bank appraisals of detached houses jumped by 1.2%, with the West and Tagus Valley region seeing the highest growth (2.6%), whereas the Alentejo region recorded the only decline (-0.2%).

When breaking down the bank appraisal values by typology:

• T2 (two bedroom) homes: Up €22 to €1,601/m²
• T3 (three bedroom) homes: Up €20 to €1,551/m²
• T4 (four bedroom) homes: Up €13 to €1,685/m²

Combined, these three property sizes made up 88.1% of all house evaluations conducted during the month.

When it comes to NUTS III sub-regions, Greater Lisbon (50.3%), the Algarve (32.0%), and the Setúbal Peninsula (23.9%) had the highest valuations than the national average. At the opposite end, Beira Baixa (-53.0%), Beiras and Serra da Estrela (-52.4%), and Alto Alentejo (-52.3%) recorded the lowest relative figures.

Note: INE calculates these median bank valuations using properties tied to mortgage applications with a gross private floor area spanning 35 to 600 square meters.

Goldcrest: How We Can Help You 

Goldcrest is the first buyer’s agent in Portugal. We provide expert, impartial advice on real estate investments and how to buy property in Portugal. From scouting out the perfect property through to property acquisition, we have you covered throughout the process. 

Unlike traditional real estate agents in Portugal who represent the seller, we are dedicated exclusively to protecting the buyer’s interests. 

If you are looking to purchase property in Portugal, don’t hesitate to get in touch. Our team of skilled experts is available to solve all your real estate doubts, helping you with the property search and offering insightful expertise and strategic advice. 

Why choose Goldcrest?

• Local knowledge: With offices located across Portugal, our presence nationwide allows us to assist you personally across the country.
• Independent service: As an independent buying agent, we do not represent any development or project. Our service is entirely tailored toward each individual client, providing you with everything you need to secure the perfect property at the best possible price.
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