Bank valuations: €2,278/m² in September, up 14.2%
The median bank valuation of homes in Portugal was €2,278 per square metre in September, €24 more than in August, according to INE. Year on year the rise was 14.2%, slightly below August's 14.7%. About 32,600 valuations were counted, 0.2% fewer than the month before and 1.2% fewer than a year earlier.
Why it matters for your move
If you are buying with a mortgage, the bank lends on its own valuation, not on the asking price. When the price is above the valuation, the difference comes out of your pocket on top of the down payment, so ask for the valuation early and negotiate with that number.
This is Re-locant.com’s own brief, written to explain what the update means for people moving to or living in Portugal. For the full original report, see the source below.