The average time to sell a house in 2103 was 16 months. To rent need to wait more than five months.
The average time to sale and lease of real estate has increased, according to Imovirtual Market Index, barometer dedicated to the real estate market in Portugal, conducted by Imovirtual (www.imovirtual.com), in partnership with the School of Real Estate Activities (ESAI).
The study also reveals that “the average time to sell a house in November was 16 months, a month longer than reported in October,” and that the average time to rent house “rose to a period over five months.”
These results are mainly (76% of responses) to the decrease in purchasing power. Another point to be emphasized is the fact that 63% of professionals consider that the transaction values of properties will drop in short time.
For the study were made 341 interviews of Real Estate Companies, Real Estate Recruiters, Business Management and Administration and Real Estate Developers and Investors (a monthly average of 279 validated responses since the beginning of the series).