The bank valuation of the houses fell to a median of 1,414 euros in August, a decrease of 3 euros, according to the National Statistics Institute (INE). Compared to the previous year, the year-on-year increase moderated to 15.8% (after 16.1% in July).
The INE indicates that the reduction of 3 euros in the median of the bank appraisal, in August, “resulted from the fall in housing prices, with the monthly variation of flats being slightly positive.” This is the first monthly reduction since March 2020, at the beginning of the Covid-19 pandemic.
The greatest increase compared to the previous month was registered in the Autonomous Region of the Azores (2.7%) and the most intense decrease was observed in the North (-0.3%)”, says the report.
The statistics institute adds that “the number of bank evaluations considered decreased for the third consecutive month, reaching around 26 thousand, which represents a reduction of 10.4% compared to the same period of the previous year and 20.7% less than last May, the month in which he recorded the most in the series.”
Source: Observadora
