Home buying in Portugal gained new momentum in the second half of 2024, fuelled by lower interest rates on home loans and exemption from IMT for young people. And this increase in the sale of residential properties helps to explain the slowdown in the increase in the supply of homes for sale in Portugal: it grew by just 2% at the end of 2024 compared to the same period in the previous year (in the previous quarter it had risen by 5%), according to data analysed by idealista, the main real estate marketplace in southern Europe.
More homes for sale in 10 major cities
Over the last year, the supply of homes for sale in Portugal has increased in 10 of the 20 district capitals. The cities where the largest increase in the stock of houses for sale was felt were in Porto (34%), Vila Real (26%) and Santarém (12%), followed by Bragança (11%), Leiria (6%), Viseu (4%), Faro (3%), Braga (2%), Castelo Branco (1%) and Aveiro (1%).
Portalegre was the city where the supply of houses for sale decreased the most in this period (-34%), followed by Guarda (-11%), Funchal (-9%), Viana do Castelo (-8%), Coimbra (-6%), Évora (-5%), Beja (-5%), Lisbon (-4%), Setúbal (-3%) and Ponta Delgada (-3%).
Where did the supply of houses for sale increase? And decrease?
Analyzing by district and Portuguese islands, it can be seen that there was an increase in the number of houses for sale in 10 territories, with emphasis on Vila Real (17%), Porto (15%) and Bragança (14%).
There are also more houses for sale in Viseu (7%), Braga (7%), Leiria (7%), Beja (6%), Viana do Castelo (4%), Santarém (2%) and Faro (1%). In the district of Évora and on the island of Madeira, the number of houses on the market remained stable during the same period analysed.
On the other hand, Lisbon was the district where the housing stock fell the most (-8%), followed by Guarda (-7%), Castelo Branco (-7%), Setúbal (-6%), the island of São Miguel (-4%), Coimbra (-4%), Portalegre (-3%) and Aveiro (-2%).
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Source: Idealista
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