Funchal Real Estate Selling Like Hotcakes

Funchal: 19% of Homes Sold Within a Week

Funchal real estate is selling Like Hotcakes, as Idealista revealed that 19% of houses or flats that hit the real estate market are sold within a week. This is despite record high property prices, high interest rates and a general slowdown in the Portuguese real estate market.

Another 11% of Funchal properties are being sold within the first month after market entrance. Thus almost one-third of homes are finding a buyer within 4 weeks.

Funchal thus continues to rank among the most sought-after real estate markets in Portugal. Only in Braga (26%), Braganca (22%) and Aveiro (21%), more real estate was sold in one week or less.

In Lisbon, 13% of properties find buyers in no more than the first 7 days. The district with the lowest express sales is Castelo Branco (0%) in the Alentejo Region has the lowest quick sales rate at 0%.

Further Statistics on The Funchal Real Estate Market

• Sold between 1 - 3 months: 22%

• Sold between 3 months and 1 year: 36%

• Sold after more than 1 year: 12%

From Idealista.pt