Portugal real estate: 12% of homes sell in under a week

An analysis of the Portuguese real estate market during the third quarter shows that 12% of properties listed for sale were sold in less than seven days. While some segments of the market move rapidly, the majority of sales take longer; 18% are sold within a month, 27% within three months, and 37% require between three months and one year to find a buyer.

Regional data reveals significant variations in sales speed. Ponta Delgada recorded the highest rate of rapid sales at 16%, followed by Aveiro at 15% and Porto at 14%. In the Madeira region, 15% of properties were transacted in under a week.

In contrast, Lisbon appears to be a slower market, with only 7% of homes selling in less than seven days. High prices in the capital are noted as a factor that can deter buyers and extend the time required to complete a sale. In Santarém, 48% of properties take between three months and one year to sell.