Comporta Market Housing
Comporta is located on the Alentejo coast, from the Sado river to Zambujeira do Mar, and in administrative terms, the municipalities of Alcácer do Sal, Grândola, Santiago do Cacém, Odemira and Sines.
The parish of Comporta (population 1,100) is part of the municipality of Alcácer do Sal (population 11,100), while the parish of Melides (population 1,500) is part of the municipality of Grândola (population 13,800).
The demand for housing in the Alentejo Litoral did not suffer with the Covid-19 pandemic. On the contrary, there was an increase in the number of sales of residential developments in the parishes of Comporta and Melides. In effect, the Covid-19 pandemic benefited the Alentejo Litoral real estate market, as an increase in interest in lower density coastal areas and the supply of housing with more outdoor space. In the year 2022, without the restrictions imposed by the confinement, the increase in inflation, interest rates and valuation of the residential product there was a decrease in demand in Litoral Alentejano, with a decrease in the number of transactions by about 34% in Alcácer do Sal and 17% in Grândola (see graph 1).
According to Vitor Paiva, Director of E&V Comporta, demand after the reduction observed in 2022 should remain relatively constant during 2023.
Resales continue to represent the vast majority of housing transactions. In 2022, 93% and 95% of the total transactions in the Alcácer do Sal and Grândola municipalities were resales.
At the E&V Comporta agency, international buyers represent around 60% of total housing transactions, with German, Swiss, British and Belgian international buyers leading the housing purchases in this market. North American buyers have been assuming a growing importance in the luxury residential product in the Alentejo Coast.
According to Vitor Paiva, the residential products most sought after by clients of the E&V Comporta agency are three-bedroom villas. The average purchase ticket at E&V Comporta is around €600,000. The percentage of E&V Comporta's national clients that buy houses with bank loans is around 50%.
Offer
In the first quarter of 2023, the total number of houses on offer for sale in the municipality of Alcácer do Sal was around 250 homes (new and used). The number of houses currently on offer represents 5% of all the housing stock in the Alcácer do Sal municipality.
Prices
The pandemic did not affect the market in the civil parish ofComporta. On the contrary, housing prices in Comporta have increased very significantly, more than165% since 2019 (see Graph 6) and 67% in 2022, prices reaching average offer values of €6,500/m2 by the end of 2022.
The entrance of some new residential product will also have contributed to this impressive price dynamics. This behaviour also shows that Comporta, as well as Melides, has consolidated its position in the international luxury residential market. In May 2023, Comporta and Melides registered average asking prices of around €8,000/m2 and €11,000/m2 respectively. As previously mentioned, these increases in asking prices are also a contribution to the reduction in demand in these markets.
