House sales in Portugal have been progressing at a good pace, supported by employment stability, lower interest rates on mortgage loans and public support for young people buying a home (IMT exemption and public guarantee). This dynamic in transactions is reflected not only in house prices, which have been rising at an accelerated pace, but also in the residential supply, which continues to be scarce and is shrinking even further due to the lack of new construction capable of meeting the high demand for housing in the country. At the end of 2025, the stock of the Portuguese housing market available for sale fell by 13% compared to the same period in 2024, according to data analysed by idealista, the leading real estate marketplace in Southern Europe.
Supply of homes for sale falls in 18 major cities
The supply of homes for sale decreased in 18 district capitals (or autonomous region capitals) between the fourth quarter of 2025 and the same period of the previous year, with increases recorded in only two cities. Santarém was the capital where available stock grew the most (6%), followed by Viana do Castelo (1%).
In the opposite direction, the largest drops in the supply of homes for sale were observed in Porto (-27%) and Bragança (-27%), followed by Faro (-25%), Funchal (-19%), Coimbra (-18%), Viseu (-18%), Beja (-17%), Vila Real (-17%), Castelo Branco (-16%) and Leiria (-16%).
Significant reductions in housing stock were also recorded in Braga (-11%), Évora (-9%), Setúbal (-9%), Portalegre (-9%), Lisbon (-8%), Aveiro (-5%), Ponta Delgada (-4%) and Guarda (-2%), confirming a widespread contraction in the supply of homes for sale across most of the markets analysed, in a context of high housing purchases and a shortage of new construction.
Supply of homes for sale in major cities
Change between Q4 2025 and the same period of the previous year (%)
District capitals (or autonomous region capitals) — Change in supply
Bragança — −27%
Porto — −27%
Faro — −25%
Funchal — −19%
Viseu — −18%
Coimbra — −18%
Vila Real — −17%
Beja — −17%
Castelo Branco — −16%
Leiria — −16%
Braga — −11%
Évora — −9%
Portalegre — −9%
Setúbal — −9%
Lisbon — −8%
Aveiro — −5%
Ponta Delgada — −4%
Guarda — −2%
Viana do Castelo — 1%
Santarém — 6%
Fewer homes for sale in all districts and islands – Guarda is the exception
Analysing the 20 districts and islands with representative samples, it is clear that the supply of homes for sale fell across all territories over the past year. The only exception was Guarda, where stock increased by 7%.
The largest reductions in the number of homes available to buy were observed in Coimbra (-18%) and Leiria (-18%), followed by Porto (-17%), Évora (-16%) and Faro (-16%). Significant declines were also recorded in the residential stock of the island of Madeira (-15%), Bragança (-15%), Santarém (-13%), Portalegre (-12%) and Lisbon (-11%).
The supply of homes for sale also declined in Braga (-10%), Setúbal (-9%), Vila Real (-9%) and on the island of São Miguel (-9%), as well as in Viana do Castelo (-6%), Aveiro (-5%), Castelo Branco (-3%), Viseu (-3%) and Beja (-2%), reinforcing the widespread trend of shrinking housing supply in the national market.
Supply of homes for sale in districts and islands
Change between Q4 2025 and the same period of the previous year (%)
Districts/Islands — Change in supply
Leiria — −18%
Coimbra — −18%
Porto — −17%
Faro — −16%
Évora — −16%
Madeira (Island) — −15%
Bragança — −15%
Santarém — −13%
Portalegre — −12%
Lisbon — −11%
Braga — −10%
Vila Real — −9%
Setúbal — −9%
São Miguel (Island) — −9%
Viana do Castelo — −6%
Aveiro — −5%
Viseu — −3%
Castelo Branco — −3%
Beja — −2%
Guarda — 7%
Methodology
The data presented were collected and analysed by idealista/data, idealista’s proptech company that provides information aimed at industry professionals to support strategic decisions in Portugal, Spain and Italy. idealista/data is based on an extensive proprietary database and also draws on public and private data, offering valuation, investment, property sourcing and in-depth market analysis services.