In the first quarter of 2026, 35,953 homes were sold in Portugal, 10.5% fewer than the same period a year earlier. At the same time, prices hit records. Fewer transactions, higher prices: a two-speed market.
Why it happens
When credit gets more expensive and uncertainty rises, many buyers step back — volume falls. But supply stays scarce and sellers are in no rush to cut. The result: less trades, but what trades is expensive.
What it tells you
A market with less buyer competition can be an opportunity for the prepared: with financing sorted upfront and an agent who can read price, you negotiate better than at the peak of the euphoria. The key is to be ready — not idle.
See mortgages for non-residents and available homes in the North.
Source: idealista / INE. Our analysis.
Borys Oporto
Your sales force in Northern Portugal
