House sales in Portugal could reach 170,000 real estate transactions: a historic volume

The latest forecasts indicate that Portugal could end 2025 with around 170,000 housing transactions, a historically high number and indicative of the resilience of the national real estate market. Despite the context of higher interest rates and greater credit requirements, demand has remained robust, supported by several structural factors.

One of the main drivers of this volume is accumulated domestic demand. For years, many families postponed purchase decisions due to economic instability, the pandemic, and job insecurity. With greater predictability and adaptation to new financial conditions, some of this demand has returned to the market, even with higher financing costs.

Added to this factor is international demand, which continues to play a significant role. European retirees, institutional investors, and foreign buyers with greater purchasing power maintain an interest in Portugal, especially in coastal areas, Lisbon, Porto, and the Algarve. This demand contributes to sustaining high transaction volumes, although it concentrates pressure on certain segments.

However, the high number of sales hides important challenges. The main one is accessibility. The growth in transaction volume has not necessarily translated into easier access to housing for the middle class. On the contrary, in many markets, turnover occurs primarily among investors or buyers with greater financial capacity.

Another challenge is regional disparity. While some areas experience intense activity, others remain marked by low liquidity and relative devaluation. This territorial imbalance raises questions about urban planning, mobility, and policies to encourage population to settle outside major urban centers.

For professionals in the sector, the scenario demands greater sophistication. It is no longer enough to simply sell volume; it is necessary to deeply understand the demand profile, structure appropriate products, and anticipate the risks of local overheating. For public decision-makers, the challenge lies in aligning this dynamism with affordable housing policies and increased supply.

In short, reaching 170,000 transactions is a sign of market strength, but also a warning: without structural reforms in supply and urban planning, volume alone will not solve the housing problem.

Source: Destak Imobiliária / Residential Market Analysis (December 2025)

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