2023 was, in fact, another year full of challenges for the real estate sector in Portugal, following the trend of the previous three years. Since the 2020 pandemic, each passing year seems to bring with it new obstacles and complications.
In 2020, the world panorama was shaken by confinement, an unexpected measure that profoundly changed our daily lives. A period of significant inflation followed, impacting several economic sectors, particularly real estate. To this already complex scenario, the war in Ukraine was added, bringing with it more uncertainties and challenges. In the real estate sector, one of the most felt effects was the increase in interest rates on housing loans. This change had a direct and considerable impact on the market, affecting both buyers and sellers.
Currently, we face a new difficulty: the scarcity of available properties. This phenomenon, combined with rising prices, is making access to housing increasingly complicated for the majority of Portuguese people. These challenges place increased pressure on the real estate sector, requiring constant adaptation and a search for innovative solutions to meet the needs of a constantly evolving market.
However, despite all these challenges, 2023 turned out to be the most fruitful year of my career as a real estate consultant. The numbers speak for themselves!
However, as in previous years, the market brought new particularities. In 2023, I noticed a decrease in transactions with Portuguese customers , who generally belong to the upper-middle class, in favor of an increase in foreign and Portuguese customers residing abroad . Compared to 2022, the average value per transaction has risen, both due to the continued increase in housing prices and the sale of more luxury properties.
I completed fewer transactions than in 2022 - a total of 50 - but these represented a higher business value than the previous year:
The total value of properties sold amounted to an impressive 33 million euros!
Although the sales volume was my best ever, my GCI (Gross Commission Income), that is, the total commissions received from closed transactions, was practically the same as in 2022, since some of the receipts were deferred to 2024.
In other words, according to the KW Portugal ranking, in 2023 I will receive the Triple Platinum distinction , as in 2022, an unprecedented level in Portugal for the approximately 3000 consultants who work for the largest franchising brand in the world: Keller Williams. It may be in 2024 that it finally reaches the Quadruple Platinum level. It's good to have goals!
Here is my thanks to all the customers who contributed to this achievement, to the brand ( KW Portugal ), to the Market Center ( KW Sol ) and to all colleagues in the real estate sector.
Work, consistency and quality guarantee results. You just need to have the necessary resilience!