158 estate agency offices close in Portugal since January

 In Estate agencies, Housing market, News, Property

Portugal’s booming property market may be plateauing after 10 years of consistent year-on-year growth if the number of estate agency branch/company closures up and down the county is anything to go by.

Last year saw a slowdown in house sales by 18.7% on the previous year according to statistics from the National Statistics Institute (INE).

According to data from the Public Markets, Real Estate and Construction Institute (IMPIC), from January to May 158 estate agency companies closed their doors from a total of 9,619.

This represents a fall of 1.6% compared to the number of companies with a licence to buy and sell property which stood at 9,777 in December 2023.