The demand for homes to buy in Portugal is on the rise, having reached one of the highest levels in the last eight years at the end of 2024. In Portugal, demand for apartments for sale between 90,000 and 360,000 euros soared during this period.
Data from idealista shows that demand for apartments priced between €150,000 and €210,000 has more than doubled and
Interest in apartments and houses for sale have increased in 2024, even reaching a historic high in the summer, when the IMT Jovem exemption came into effect. And although it fell a little on a quarterly basis, demand for buying a home ended the year at one of the highest levels recorded since 2018.
This trend of moving towards buying a house in Portugal – whether for a first residence, a holiday home, or a house to rent out as a business – increased in all 20 district capitals between the end of 2024 and the same period of the previous year, without exception. And there were even cities where values more than doubled: this was the case of Portalegre, Beja and Ponta Delgada in the case of demand for apartments; and the case of Guarda in relation to housing.
In the Portuguese capital, there was a much greater annual increase in demand for apartments (+54%) than for houses (+10%). And exactly the opposite was observed in Porto: interest in houses increased by 32%, while interest in apartments grew by just 4% in the last year.
Families are paying more attention to houses for sale in Portugal in all price ranges: from the cheapest to the most expensive (costing more than 1 million euros). Of course, the demand for more affordable homes is much greater compared to the pressure felt on luxury homes, and it is increasing in the face of supply shortages and low wages.
The demand for apartments costing between 90,000 and 360,000 euros has soared in the country, with year-on-year increases of over 63%. The fact that the total exemption from IMT Jovem is up to €316 thousand may help to explain these results – it is worth remembering that the public guarantee on real estate credit only began to be applied at the beginning of this year. Within this price range, apartments with prices between €150,000 and €210,000 stand out, as demand has more than doubled in the last year.
Interest in luxury properties also followed an upward trend, albeit less pronounced, with demand for apartments priced above €1 million rising between 23% and 62% in a year.
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