Home buying and selling falls 18.7% in 2023 to lowest since 2017

Home buying and selling falls 18.7% in 2023 to lowest since 2017

View of Portuguese colorful houses in Porto city, Portugal

The number of housing units sold in 2023 fell by 18.7% compared to the previous year, to 136,499, the lowest figure since 2017, according to data from the National Statistics Institute (INE) released today.

According to construction and housing statistics, last year the total value of housing transactions stood at 28 billion euros, which represents a reduction of 11.9% compared to 2022.

In that period, around 106,300 bank appraisals were carried out by experts at the service of banking institutions in the context of granting housing loans, reflecting a decrease of 11.3% on the previous year.

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