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Supply of Houses for Sale in Portugal has Increased in 2023

Thinking of moving to Portugal and buying property in the country? Well, lucky for you, the supply of houses in the market has increased in the third quarter of 2023, according to a study led by idealista – a popular real estate platform in Portugal. Let’s look into why that is, plus find out the best areas to buy property in Portugal right now.

Frederik Pohl
Frederik Pohl, CEO
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The process of purchasing a home in Portugal has been continuously changing in 2023. On account of inflation, it is now harder to pay off mortgages, hence the number of houses sold in Portugal is falling and the prices are tending to stabilize. However, new construction and refurbishment real estate projects are still on a steady rise and, since house demand has cooled, the supply of houses for sale has increased by 11% in the third quarter of 2023, compared to the same period last year.

The districts which saw the biggest growth are those in Portugal’s lower density regions, meaning that real estate in these areas is also less expensive in general. Évora, in the Alentejo, saw the biggest growth in the supply of properties to buy during this period.

Where did the supply of real estate for sale increase in Portugal?

There are 13 district capitals where the supply of houses for sale grew:

  • Évora (55%)
  • Guarda (47%)
  • Viana do Castelo (41%)
  • Vila Real (38%)
  • Leiria (37%)
  • Setúbal (27%)
  • Coimbra (18%)
  • Braga (18%)
  • Faro (13%)
  • Castelo Branco (12%)
  • Portalegre (12%)
  • Viseu (9%)
  • Beja (5%)
houses for sale portugal 2023
Colorful houses of Ribeira Square located in the historical center of Porto, Portugal
Where should I buy a house in Portugal in 2023?

Évora, for example, is a beautiful district in the Alentejo – a very quiet, relaxed region in Portugal, perfect for retirees and with many beautiful farm houses available for an affordable price. Guarda, on the other hand, is the cheapest district in Portugal, and also very quiet, full of nature and an authentic Portuguese way of life.

Alternatively, Coimbra and Braga are prolific, growing cities that are full of life and movement, although not as busy as Lisbon and Porto, so amazing options for those looking for the opportunities and amenities of a city, but peace and quiet as well. You can check out properties all over the country in our marketplace.

Unsurprisingly, Porto (-24%) and Lisbon (-5%) are within the group of districts where real estate offers fell. This is due to the popularity and demand for these cities. The same can be said for Funchal (-16%), in Madeira island, and Ponta Delgada (-14%), in Azores. The other districts where the supply diminished were Aveiro (-10%), Bragança (-5%) and Santarém (-3%).

How is the real estate market in Portugal in 2023?

According to the study led by idealista, the real estate supply in all of mainland Portugal grew generally between the third quarter of 2023 and the same period last year. Not the same can be said for Madeira and Ponta Delgada (in Azores) islands, though.

District/island

Variation (%) in number of houses for sale

Leiria

+29%

Évora

+26%

Setúbal

+22%

Viana do Castelo

+22%

Faro

+22%

Guarda

+15%

Portalegre

+15%

Beja

+14%

Castelo Branco

+12%

Coimbra

+11%

Lisbon

+11%

Braga

+10%

Vila Real

9%

Viseu

+7%

Santarém

+6%

Aveiro

+3%

Bragança

+3%

Porto

+1%

Madeira (Island)

-7%

São Miguel (Island)

-10%

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