Real estate banking valuation increased
For two consecutive years, the average value of the banking valuation of real estate in the scope of credit applications for the purchase of housing has increased to € 1247, recorded in March, corresponding to an increase of 0.6% in relation to in February and 6.9% in relation to March of the previous year.
Despite this rise in the banking valuation of real estate, which marks the positive moment in the real estate market, the increase in house prices softened.
In an interview with Agencia Lusa, Pedro Lencastre, the director general of real estate consultancy JLL, said that “there is a smoothing of price increases” especially in second-hand homes. To prove this, he said that “70% of homes that have changed in price have gone down” especially in the case of second-hand housing. The owners “are not able to sell at the speed and price they wanted.” This does not mean that there is less demand, people are more difficult to find what they want.
