Lisbon, 2 June, 2025 — The Portuguese Competition Authority (AdC) has announced that it is launching an in-depth investigation into the proposed merger between real estate platform Idealista and Portal47. The decision was taken by the AdC’s Board of Directors under the powers granted by the Competition Act and follows concerns that the transaction may significantly hinder effective competition in relevant markets.
According to the AdC, the preliminary assessment of the transaction has raised “serious doubts” regarding its compatibility with competition rules, particularly under Article 41(3) of the Competition Act. These doubts relate to the potential negative impact the merger may have on market dynamics and consumer choice.
The authority’s concerns prompted the adoption of a “Phase II” decision under Article 50(1)(c) of the Competition Act, meaning the merger will now be subject to a more detailed analysis. The aim of this investigation phase is to determine whether the transaction would lead to a significant impediment to effective competition, especially in the online property listing and digital real estate advertising markets.
Idealista is a dominant player in the Portuguese online property market, while Portal47 is a smaller, but strategically positioned, digital platform. The proposed acquisition could lead to increased market concentration and raise barriers to entry for other competitors.
No final decision has been made, and the in-depth review is expected to gather further evidence and allow for input from stakeholders, including market participants and consumers.
The AdC has not provided a timeline for its final decision but stated that the investigation will be conducted thoroughly to ensure fair competition and protect consumer interests.
