"translation": "Three out of four real estate properties were sold in less than three months."

Buyers are mainly Portuguese, although there is a variety of nationalities among the clients. Brazil, the United Kingdom, France, Angola, the United States, Germany, and the Netherlands are the main countries from which buyers come.

The real estate sector appears to be showing signs of a global trend towards recovery, with a more dynamic market and a25% reduction in the average time between property listing and sale. The data was provided by ERA Portugal, which has just published the results of operations for the second quarter of this year, also reporting that three out of four properties are sold in less than three months.

Although the first six months of the year were below the 2022 figures, analysis of recent months shows a recovery trend with growth of 5% in May and another 9% in June compared to the previous month.

On a quarterly basis, revenues, which reached 21,741,986 euros in the second quarter of 2023, were up 9% compared to the previous three months, when results amounted to 19,999,868 euros. In June, the figures remained at the same level as in the same period, with a change of -2%.

Sales are another indicator that shows the recovery trend of the sector, with a 3.5% increase in the number of properties sold, from 2,680 in the first quarter to 2,774 in the second, and a 5.4% increase in the volume of transactions, which amounted to 390,760,195 euros in the first three months of the year, rising to 411,944,869 euros in the second quarter. Regarding the average value of properties sold, there is an upward trend, although it is starting to slow down.

However, despite more than 51,000 properties in the portfolio, data from the ERA network indicates that supply continues to fall, down 4.6% on the same period, and consequently prices continue to rise, up 11.1% in terms of market prices for properties in the portfolio. And while there was an increase in the number of properties purchased in the first quarter of 2023, which could indicate an increase in supply, the number in the second quarter was again down 13% on the previous period, although it remained 11% higher compared to the second quarter of 2022.

Customer Profile

According to ERA, the main client profiles remain mainly Portuguese, although there is some diversity among foreign clients turning to real estate to buy a house. Brazil, the UK, France, Angola, the US, Germany and the Netherlands - in that order - are the main foreign countries where clients come from. In 2023, the influence of nationalities such as Italian or Chinese, which has no longer been seen in the Top 10 since 2020, is expected to increase, as well as the growth of the US market, which ranks in the Top 5.

In terms of the number of new contacts and customers in the database, the numbers continue to grow compared to previous periods, with higher growth for sales customers (+10%) than for purchase customers (+6%) compared to the first quarter of the year.