Portugal’s Housing Supply Grows 5% in Q3 2024

Idealista reports a 5% increase in housing supply in Portugal for Q3 2024, following a 10% rise in the previous quarter. Explore the insights.

Portugal's Housing Supply Grows 5% in Q3 2024

In a recent analysis conducted by idealista, the landscape of the Portugal housing market has revealed intriguing trends as we delve into the third quarter of 2024. The data indicates a modest uptick of 5% in the stock of residential properties available for sale over the past year. This figure, while seemingly positive, pales in comparison to the more robust 10% increase observed in the preceding quarter.

The analysis further elucidates that, consistent with the patterns of the previous two quarters, the availability of housing for sale has expanded in 13 out of the 20 district capitals for which data is accessible. Leading the charge in this housing renaissance are Vila Real, boasting a staggering 35% increase, followed closely by Porto at 31%, and Leiria at a respectable 16%. These districts have emerged as the veritable champions of real estate availability, much to the delight of prospective homebuyers.

Conversely, the report highlights a more sobering reality for certain locales. Portalegre has experienced the most significant contraction in housing supply, plummeting by 16%. This decline is echoed in Viana do Castelo (-14%), Guarda (-13%), and Coimbra (-8%), among others. The data paints a complex picture of a market in flux, where some regions flourish while others grapple with diminishing options.

The Portugal housing market is navigating a period of nuanced change, characterized by both growth in certain areas and decline in others. As we continue to monitor these developments, one can only wonder: will the pendulum swing back, or are we witnessing the dawn of a new era in Portugal real estate?