Supply of houses for sale up 11% in Q1

 In Housing market, News, Property, Real Estate

There were more houses on the market for sale in Portugal in the first quarter of 2024 with supply up by 11% like-for-like on 2023.

This is according to the online estate agency Idealista, which pinpointed the cities of Vila Real (+70%)(Pictured), Guarda (+65%), Viseu (+45%), and Leiria (+30%) as the districts where supply increased the most according to percentages identified by the Southern European real estate marketplace company.

In fact, housing offer for sale has jumped in Portugal over the past year in 13 district capitals: Beja (+24%), Viana do Castelo (+24%), Viana do Castelo (+24%), Braganza (+21%), Évora (+16%), Castelo Branco (+15%), Setúbal (+13%), and Coimbra (+8%).

Even in Lisbon and Porto where demand has been highest in recent years, supply was up, albeit at a lower percentage increase with Lisbon (+6%) and Porto (+3%).

However, some places saw some falling supply including Braga (-9%), Funchal (-7%), Aveiro (-5%), Portalegre (-15%), Faro (-4%), and Ponta Delgada (-3%). In the case of Madeira, housing stock has fallen 7% over the past year, followed by the Azores island of São Miguel (-5%).