House sales in the European Union fall in 2023 and Portugal has the seventh biggest drop

The sale of houses in the European Union (EU) fell in 2023 compared to the previous year in 13 of the 16 Member States for which data is available, with Portugal occupying the seventh position in the biggest declines, announced this Tuesday Eurostat.

Data published by the EU’s statistical office, Eurostat, states that “in 2023, the number of housing transactions decreased in 13 of the 16 EU countries for which data is available, compared to 2022 “, this being “the second consecutive year in which most of the countries covered recorded declines in sales”.

When it comes to Portugal, the country recorded a 19.8% drop in house sales last year, after annual increases of 2.7% and 19.4% in, respectively, 2022 and 2021.

In 2020, the year the Covid-19 pandemic began, there was a 9.8% decline in these transactions in Portugal.

Still, the biggest reductions in the number of house sales in 2023 were recorded in Luxembourg (-43.3%), Austria (-26.4%), Hungary and Finland (each – 24.5%), while the biggest increases were seen in Cyprus (+31.0%), Poland (+3.9%) and Ireland (+0.6%).

In the previous year, in 2022, 10 of the 16 countries covered recorded decreases in the number of sales, with the largest decrease occurring in Denmark (-24.8%) and the largest increase in Cyprus (+27.4%). %).

Eurostat recalls that, in 2020, the real estate market was influenced by the Covid-19 outbreak, which is why that year “there was a widespread drop in housing transactions due to confinement measures , with only four of the 16 EU countries for which data is available recording increases in sales”.

“In 2021, in turn, house sales increased in 14 EU countries”, he concludes.


Francesco Giganti

Journalist, social media, blogger and pop culture obsessive in newshubpro

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