One of the most sought-after destinations in Portugal, the Algarve real estate market has always been in high demand among both Portuguese and international property buyers. So much so that 1 in every 3 homes are now sold in less than a week, according to the latest data.

Idealista analysed property sales from the first quarter of the year and found that 33% of homes in the Algarve were bought within 7 days of being listed on the real estate market, a figure in which overseas buyers are likely to play a big role.

These “express sales” – residential properties that sell in less than one week – are more prevalent in the Algarve than in any other region in Portugal, with the national average standing at 11%.

Following the Algarve's 33% of express sales are Portalegre (25%), Porto (15%), Braga (14%), Évora (14%), Setúbal (14%), Vila Real (14%), Castelo Branco (13%), Coimbra (11%), and Leiria (11%).

According to the latest report, in the first quarter of 2024, 22% were on the market for between two weeks and a month, 24% for between one and three months, 34% for between three months and a year, and 9% for more than a year.

Whether you have your sights set on a holiday home or a new permanent address, inland or closer to the coast, the competition for the perfect property is tough. This is where a trusted local estate agent comes in. Get in touch with Algarve Home Sales today.