Reduces the time to sell the property by 25 %

In the second quarter of this year, real estate sales are following a recovery trend. An increase of 3.5% was recorded in the number of properties sold (from 2,680 in Q1 to 2,774 in Q2) and 5.4% in transaction volume (from €390,760,195.00 in Q1 to €411,944,869.00 in Q2). Despite this positive trend, both figures are still down compared to the same period a year earlier, with a 12.2% decrease in the number of homes sold and a 14% decrease in transaction volume.

The average value of real estate properties sold continues to rise, albeit at a slower pace. The second quarter recorded an increase of 2.8% (from €167,379.33 in Q1 to €172,070.33 in Q2) compared to the first three months of the year and 0.1% compared to the same period in 2022. On the other hand, the value for the first half of the year is 1.9% behind the last half of 2022 and 1.2% above the same period a year earlier.

Analysis of real estate in stock, which helps predict future trends, does not indicate a reversal of market dynamics. According to the ERA network, there are more than 51 thousand properties available and supply continues to decline (-4.6% compared to the same period a year ago), leading to price increases (+11.1% in the market value of properties available). On the other hand, the average time to sell is decreasing (-25% compared to the same period a year earlier). In fact, in 2023, three of the four properties sold in less than three months after listing for sale.

With regard to revenue, although the first half of 2023 lags behind 2022 values, the monthly analysis shows a clear and rapid trend of market recovery with significant growth in May (+5%) and June (+9%) compared to the previous month.

In the quarterly analysis, revenue in the second quarter amounted to €21,741,986, an increase of 9% compared to the previous quarter (€19,999,868.00). In June, a value of €7,804,287.00 was recorded, very close to the value of the same period (only -2%).

"Based on our data, and not only, there are clearly signs of market stabilization and even recovery. Despite the difficult economic situation, we see a return of confidence to the levels of the recent past," emphasizes ERA Portugal CEO Rui Torgal.

Demand continues to outstrip supply. While Q1 saw an increase in the number of properties received, which could indicate an increase in available supply, Q2 saw this number fall again (-13%) compared to the previous period, although it is still 11% higher compared to Q2 2022.

The number of new contacts and customers in the database continues to grow compared to previous periods, with higher growth in the level of sales customers (+10%) compared to purchase customers (+6%) compared to Q1 of the year.

The main customers of ERA continue to be mainly Portuguese. On the other hand, the nationalities of foreigners who are most likely to buy real estate with ERA remain largely unchanged: Brazil, UK, France, Angola, USA, Germany and the Netherlands (in that order). Of the 2023 news, Italian and Chinese nationalities are on the rise, something not seen in the top 10 since 2020, as well as the rise of the U.S. in the top 5.

"Predictive indicators provide us with a very positive outlook for the coming months. Our expansion strategy, launched at the beginning of the year and already with more than a dozen new store openings in the first six months, makes us even more confident for the rest of 2023," concludes Rui Torgal.