Portugal estate agencies lift revenue despite fewer sales
Portugal’s biggest estate agency networks increased revenue in the first half even as home transactions fell, showing how rising prices and tight supply are reshaping the market.
Portugal’s largest real estate agency networks increased revenue and transaction value in the first half of 2026 despite a drop in home sales, according to data the companies reported to ECO. The divergence points to a sector where tighter supply and higher prices are supporting agency income even as activity slows.
Between January and June, home transactions in Portugal fell 7.7% year on year to 75,860, according to Confidencial Imobiliário. But the main agency networks that shared figures with ECO posted a combined 9% rise in revenue and a roughly 5.6% increase in business volume. Residential prices also kept rising, with Confidencial Imobiliário’s housing price index showing an 18.6% annual increase in June.
Zome was the only network in ECO’s sample to increase transactions, up 11% to 5,563, while lifting business volume 10% to €1.19 billion and revenue 7% to €26.75 million. Keller Williams said revenue rose 13.3% to a record €43 million, with total transactions broadly stable at around 7,300.
Era reported revenue of €63.2 million and business volume of €1.24 billion, even as transactions slipped 1.6% to 6,300. Remax did not disclose total transactions, but said business volume rose 3.7% to €4.22 billion, while the average sale price increased to €239,900 from €213,500 a year earlier.
Higher-value demand from foreign and institutional buyers is part of the explanation. According to INE, Portugal’s statistics office, buyers with tax residence abroad paid a median 29.7% more per square metre than domestic buyers in the first quarter, with the gap reaching 34.5% in Greater Lisbon and 24.5% in the Algarve. Financial and non-financial companies paid a median €2,142 per square metre, up 33.8% from a year earlier.
Originally published at Eco.pt
