Nevertheless, the year-on-year increase of 16.5% was lower than the 17.2% recorded in February, according to the National Statistics Institute (INE).
Month-on-month, compared with February, the median value of the bank valuation – carried out in the context of mortgage applications – rose by €29 (1.4%).
Largest increase
According to INE, in March, the Autonomous Region of Madeira recorded the largest increase compared to the previous month (2.1%), with no decrease recorded.
In comparison with March 2025, the sharpest change was in the Setúbal Peninsula (24.8%), with no reduction occurring.
Data collection
To calculate the median bank valuation for March 2026, 32,839 valuations were considered (20,397 flats and 12,442 houses), 10.3% fewer than in the same period last year. Compared to February, there were 3,214 more bank valuations, representing an increase of 10.8%.
For flats, the median bank valuation was €2,511 per square metre (€/m²), 21.2% higher than in March 2025.
Highest values
The highest values were recorded in Greater Lisbon (€3,333/m²) and the Algarve (€2,883/m²), whilst the Alentejo and the Centre recorded the lowest values (€1,477/m² and €1,626/m², respectively).
The Setúbal Peninsula recorded the most significant year-on-year growth (26.5%), with no decline observed.
Apartment valuations
Compared to the previous month, apartment valuations rose by 1.3% in March, with Madeira recording the largest increase (4.0%) and the Azores the only decrease (-6.2%).
The median value of one-bedroom flats rose by €48 to €3,174 per square metre, whilst two- and three-bedroom flats increased by €26 and €13 respectively, to €2,586 per square metre and €2,170 per square metre. Taken together, these property types accounted for 92.5% of flat valuations carried out during the period under review.
As for detached houses, the median valuation reached €1,542/m², a year-on-year increase of 12.6%, with Greater Lisbon (€2,838/m²) and the Algarve (€2,755/m²) recording the highest values, whilst the Centre and the Alentejo recorded the lowest figures (€1,144/m² and €1,272/m², respectively).
The Autonomous Region of the Azores recorded the highest year-on-year growth (20.0%), with no decline observed.
House valuations
Compared with February, house valuations rose by 0.0%, with the Azores being the region with the highest growth (3.5%) and a single decline recorded in the Algarve (-0.2%).
The median value of two-bedroom homes rose by €18 to €1,532/m², that of three-bedroom homes rose by €7 (€1,513/m²) and that of four-bedroom homes by €23, to €1,608/m². Taken together, these property types accounted for 88.0% of the home valuations carried out during the period under review.
Analysis by region
In an analysis by NUTS III regions, Greater Lisbon, the Algarve and the Setúbal Peninsula recorded the highest valuation figures in March compared to the national median, at 52.4%, 32.0% and 23.3%, respectively.
Conversely, Terras de Trás-os-Montes, Beiras and Serra da Estrela, and Alto Tâmega and Barroso were the regions with the lowest values relative to the national median (-52.3%, -51.3% and -50.7%, respectively).
The median bank valuation of residential property calculated by INE takes into account dwellings with a gross floor area of between 35 and 600 square metres and properties that have been subject to a valuation in connection with a loan application.