The study reveals that the downward trend in supply has been especially evident in the metropolitan areas of Lisbon and Porto.
The number of houses for sale in Portugal fell to 15-year lows in the final stretch of last year, according to data released by Confidencial Imobiliário, under the SIR (Sistema de Informação Residencial) database.
“The year 2022 ended with a record residential supply at minimums of about 15 years, accounting for about 47,200 homes for sale in mainland Portugal in the 4th quarter of the year,” one can read in a statement sent to Notícias ao Minuto.
Of the supply accounted for in the 4th quarter, 17,600 are new homes (37%) and 29,600 are used (63%).
“This is the lowest quarterly volume of supply since mid-2007 and consolidates two years of successive reductions in the portfolio of homes available for sale in the country,” according to Confidencial Imobiliário.
In addition, “although these contractions are slight, they reflect a persistent trend, in such a way that the 47,200 dwellings registered in the 4th quarter of 2022 are 25% below the levels observed in the beginning of 2021, when a volume of around 63,000 units was recorded”.
The data also reveals that the downward trend in supply has been especially evident in the Lisbon and Porto Metropolitan Areas.
“In the 4th quarter of 2022, companies participating in the SIR reported a total of 20,700 dwellings on offer in the Lisbon region, also a 15-year low and in contrast to a quarterly stock in the order of 29,000 recorded two years earlier. But, more importantly, in less than half of what were the standards of this market in the years 2009 and 2010, when the stock on offer per quarter exceeded 50.000 units”, is also referred.
