This volume exceeds the previous record set in 2022, when the market recorded approximately 161,000 transactions, in a context of recovery after the pandemic lockdowns. The growth seen in 2025 confirms the recovery trajectory that began the previous year. In 2024, the market had already recorded a 14.4% increase in sales, reversing the 18.5% decline observed in 2023, a period marked by a more restrictive macroeconomic context, with high interest rates and persistent inflation.
Quarterly analysis reveals consistent demand throughout 2025. The first quarter recorded the lowest volume, still close to 40,000 transactions and only 7.6% below the historical maximum observed in the last quarter of 2024. In the following quarters, sales ranged between 40,500 and 41,500 homes, reflecting solid demand throughout the year. Without prejudice to maintaining high levels of activity, the third and fourth quarters showed a slight slowdown, with quarterly variations of -1.1% and -1.3%, respectively.
Sales performance occurred in a context of strong price appreciation. According to the Residential Price Index, in 2025, housing sold in mainland Portugal was 23.4% more expensive than in the previous year, recording the largest annual increase in almost 40 years. The average sale price of housing in the country in 2025 reached €2,874/m2, setting a new record high.
Image credits: Jakub Zerdzicki | Unsplash
Translated with DeepL.com (free version)
