House prices continue to rise and home sales are soaring in Portugal, leading to a 25% drop in housing stock and increasing situation of demand outstripping supply.
According to a report by idealista, this perfect property storm has led to a 25% decline in housing stock available for sale in the second quarter of 2022 compared to the same period in 2021.
Fewer homes for sale
The number of houses for sale in Portugal has dropped in 18 district capitals in the last year. Leading the list is Faro (-37%), followed by Coimbra (-34%), Porto (-33%) and Vila Real (-31%). The list continues with Leiria (-27%), Évora (-26%), Viana do Castelo (-24%), Lisbon (-24%), Beja (-24%), Portalegre (-23%), Braga (- 23%), Setúbal (-21%), Viseu (-19%), Ponta Delgada (-11%), Funchal (-8%), Bragança (-8%), Aveiro (-7%) and Castelo Branco ( -6%).
Conversely, Guarda was the city where the offer of houses for sale grew the most (28%), followed by Santarém (11%). These were the only cities analysed where housing stock increased during the analysed period.
Source: https://amp.theportugalnews.com/news/2022-07-27/housing-stock-drops-by-25/68994