General decline in the supply of homes for sale in Portugal
The market for homes for sale in Portugal saw a significant decrease at the end of 2025, with available stock falling by 13% compared to 2024. The shortage of new housing, combined with high demand for property, has kept prices rising steadily and created challenges for those looking to buy a home.
More favourable credit conditions, lower mortgage interest rates and public support for home purchases helped maintain transactions at a strong pace. Even so, supply continues to shrink, reflecting the lack of new construction capable of keeping up with growing demand in several regions of the country.
Greater contraction in major cities
Among Portuguese cities, Porto and Bragança led the drop in the stock of homes for sale, recording a reduction of 27%. They were followed by Faro (-25%) and Funchal (-19%). Other cities with significant declines include Coimbra and Viseu (-18%), Beja and Vila Real (-17%) and Castelo Branco and Leiria (-16%).
Lisbon recorded a reduction of 8%, showing that the contraction in the market for homes for sale in Portugal is not limited to inland cities, but also affects the capital. This situation highlights that the lack of supply is a national trend, felt across virtually all urban and peripheral markets.
Reduction of homes for sale in almost all districts
The district-level analysis confirms that the supply of homes for sale in Portugal decreased in the vast majority of territories, with the exception of Guarda, where stock increased by 7%. Coimbra and Leiria stood out with the largest declines (-18%), followed by Porto (-17%), Faro (-16%) and Évora (-16%).
Significant reductions were also recorded in Madeira (-15%), Bragança (-15%), Santarém (-13%) and Lisbon (-11%). These figures reveal a widespread contraction in stock, signalling that new construction has not been able to keep pace with strong housing demand.
Ongoing downward trend in the housing market
Other districts also recorded decreases: Braga (-10%), Setúbal (-9%), Vila Real (-9%) and the island of São Miguel (-9%). More moderate declines were observed in Viana do Castelo (-6%), Aveiro (-5%), Castelo Branco (-3%), Viseu (-3%) and Beja (-2%).
This trend confirms that the contraction in the supply of homes for sale in Portugal is persistent and widespread. The combination of limited new construction, high demand and purchase incentive policies continues to put pressure on the market, making home acquisition increasingly challenging across much of the country.
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