Leasing: 14% of listings are less than 24h on the market.
The analysis is from Idealista and reveals the percentage of ads that stay on the market for less than 24 hours, depending on the rental value and cities. Find out more next.
About 14% of the rental supply is removed from the market in less than a day.
According to data analysis conducted by Idealista and shared by Notícias ao Minuto, 14% of rental property listings were active for less than 24 hours in the market in the first quarter.
“Still, the platform reveals in a statement, the values vary depending on the price range of the houses, with 25% of houses in Portugal up to 750 euros/month being rented in less than 24 hours, 19% between 750 and 1,000 euros/month, 12% between 1,000 and 1,500 euros/month, and 7% cost more than 1,500 euros/month,” explains the news article.
In an analysis of the six district capitals with the most supply of rental homes in the first quarter, the city where the percentage of homes rented in less than 24 hours was highest was Setúbal - with 32% of the total operations. Following, are Funchal (26%), Faro (20%), Porto (14%), Aveiro (13%), and Lisbon (11%).
As for demand, a large part is concentrated on more affordable rentals, with rents below 750 euros per month, marking higher "express rent" rates.
In Funchal, houses for less than 750 euros per month lasted less than a day on the market in the first quarter, followed by Setúbal (75%), Faro (50%), Aveiro (33%), Porto (30%), and Lisbon (22%).
"As price ranges increase, the percentage of 'express rentals' decreases, although in some markets this value remains relevant. In homes priced between 750 and 1,000 euros, Faro and Funchal are leaders in 'express rentals', with 33% of homes being rented in less than a day. Lisbon (31%), Setúbal (29%), Aveiro (14%), and Porto (11%) follow suit," the news article reads.
In the case of properties with an income between 1,000 and 1,500 euros, 25% were rented in less than 24 hours in Funchal and Setúbal, 15% in Lisbon, and 14% in Porto. Following rents above 1,500 euros, 10% of the houses in Funchal were on the market for less than a day, 9% in Porto, and 5% in Lisbon.
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