In Portugal, there is a shortage of properties available on the housing market to meet the existing demand, especially at affordable prices. But the final stretch of the year 2023 brought good news: the supply of houses for sale in the fourth quarter of 2023 increased by 10% compared to what was available in the same period of 2022, according to a study by idealista. In addition to the arrival of new developments on the market, along with the entry into force of the Mais Habitação measures, the cooling of housing demand due to the climate of uncertainty, the rise in interest rates and the loss of purchasing power may also help to explain this growth in supply, through the reduction in the number of transactions. Let's learn more about how the number of properties for sale in Portugal increased by 10% last year.
Supply of houses to buy rises in 12 major cities in Portugal
The supply of houses for sale in Portugal has increased in 12 district capitals over the last year. Leading the list is Leiria (42.6%), followed by Évora (37.3%), Viana do Castelo (34.7%), Portalegre (25.3%) and Viseu (23.3%) as the district capitals where the stock available to buy more increased. This was followed by Braga (23%), Vila Real (22%), Beja (21.7%), Setúbal (19.1%), Faro (15%), Castelo Branco (11%) and Coimbra (10.3%). On the other hand, there were also seven cities that saw the supply of housing available for purchase decrease in this period. Santarém was the city where the supply fell the most (-13.9%), followed by Ponta Delgada (-12.5%), Porto (-12.2%), Lisbon (-4.7%), Aveiro (-3.2%), Bragança (-2.1%) and Funchal (-0.8%), according to the same study by idealista, the main real estate marketplace in southern Europe.
Supply of houses for sale by district capitals
Change between the 4th quarter of 2023 and the same period of 2022
More homes for sale in almost all Portuguese districts and islands Looking at the Portuguese districts and islands with representative samples, it is clear that the number of homes for sale has increased in virtually all territories over the last year, with Castelo Branco (17.8%) leading the way. Leiria (24%), Faro (19.9%), Beja (19.7%), Évora (19.2%), Portalegre (17.8%), Viana do Castelo (17.2%), Viseu (16.5%), Setúbal (15.4%), Vila Real (14.4%), Bragança (13.8%), Braga (12.8%) and Lisbon (8.1%) follow in the ranking of houses for sale. The increase in houses on the market was less significant in Coimbra (5.8 percent), Aveiro (4.1 percent), Madeira Island (3.1 percent), Porto (2.9 percent) and Santarém (1.7 percent). It should also be noted that there was one island where the stock of houses for sale fell last year: São Miguel, in the order of -14.7 percent, the study concludes.
Supply of houses for sale by district and island
Variation between the 4th quarter of 2023 and the same period in 2022
