The demand for property is on the rise in Portugal, even with inflation and rising house prices. And this is reflected in the time that the houses are on the market: about 14% of the houses bought at the start of 2022 through idealista were on the market for less than a week. 15% of properties on idealista were on the market between two weeks and a month, 25% between one and three months, 33% between three months and a year and 13% for more than a year, according to a study published by idealista, the Southern European property marketplace. Let's have a closer look at how long it takes to sell property in Portugal.
How long does it take to sell property in cities in Portugal?
Analysing these "express sales" in Portuguese cities, we can see that the properties selling in less than a week are mostly found in Faro and Funchal where the highest percentages are observed (24% in both cities). They are followed by Porto (19%), Évora (18%), Setúbal and Coimbra (14% in both cities). Below the national average of 14% are Leiria (12%), Braga, Aveiro, Lisbon, Castelo Branco (10% in the four district capitals), Vila Real (9%) and Santarém (9%).
The district capital where there were fewer "express sales" of houses is Beja, where only 3% of the transactions took place in less than seven days at the beginning of 2022. This is followed by Ponta Delgada (6%), Viseu (6%), Viana do Castelo (6%), Bragança (8%) and Guarda (8%).
Houses sold in Portugal by district capital city
This data is according to the time properties in Portuguese cities have been on the market: less than a week, between 2 weeks and a month, between 1 and 3 months, between 3 months and a year and more than a year.
In which Portuguese provinces or islands do properties sell faster?
In relation to Portuguese provinces, also known as districts, the market behaves differently. It was in the district of Porto (25%) where more properties were sold in less than a week at the start of 2022. This is followed by Madeira (20%), Lisbon (12%), Setúbal (12%), Viana do Castelo, Leiria, Aveiro, Santarém (10% in the four districts), Faro (9%), Coimbra (9%), Braga (9%) and Évora (8%).
On the other hand, it's again in Beja where this percentage of quick sales of houses is the lowest - only 2%. Next on the list is Bragança (3%), Castelo Branco, Vila Real and Portalegre (6% in all three districts).
Houses sold in Portugal by province
This data is according to the time properties in Portuguese provinces have been on the market: less than a week, between 2 weeks and a month, between 1 and 3 months, between 3 months and a year and more than a year.
