"The year 2022 ended with a record of residential supply at a minimum of around 15 years, accounting for around 47,200 homes for sale in mainland Portugal in the 4th quarter of the year".
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 offer volume since mid-2007 and consolidates two years of successive reductions in the portfolio of housing available for sale in the country", according to Confidencial Imobiliário.
In addition, "although these contractions are tenuous, they reflect a persistent trajectory, in such a way that the 47,200 dwellings registered in the 4th quarter of 2022 are 25% below the levels observed at the start of 2021 when accounting for a volume of around of 63,000 units".
The data also reveals that the tendency to reduce supply has been particularly evident in the Metropolitan Areas of Lisbon and Porto.
"In the 4th quarter of 2022, the companies participating in the SIR reported a total of 20,700 dwellings on offer in the Lisbon region, also a minimum of 15 years and in contrast to a quarterly stock of around 29,000 registered two years earlier. But, more importantly, in less than half of what the standards of this market were in the years 2009 and 2010 when the stock on offer per quarter exceeded 50,000 units".