Data from the National Institute of Statistics (INE) shows that in addition to the empty houses that exist in Portugal, only one house was built for every nine houses sold in the country between January and September 2022.
In Portugal, 129,374 homes were sold between January and September 2022. And in the same period, only 14,451 homes were completed, according to INE. This means that only one house was built in Portugal for every nine sold, an insufficient number to respond to the high demand according to idealista/news.
In the North and in the Autonomous Region of the Azores this difference is a little smaller, as one house is built for every six sold in each region. In the Alentejo and Algarve, on the other hand, there are a much higher number of houses sold than built – rising to 16 houses sold for every house built.
Also in Greater Lisbon, there is a lack of new construction, as only 3,260 new houses were placed on the market, while 39,261 units were sold in the first nine months of 2022. This means that 12 houses were sold for each house built in the Metropolitan Area of Lisbon, shows INE data.
A confused and misleading article. The nine house sales don't remove these properties from the market, they are simply changing hands with new owners. In nearly all countries, the numbers of houses being sold will vastly outnumber the number being built. The true comparison should be between houses built and those demolished as the difference determines the housing stock, and whether it is expanding or contracting.
By Billy Bissett from Porto on 22 Feb 2023, 12:32