Funchal Rentals: More Listings, Less Demand, Same Struggles

Funchal Rentals: More Listings, Less Demand, Same Struggles

A 20% drop in rental inquiries and a 59% rise in online rental listings might seem like good news, but it hasn’t made things easier for tenants. Here’s why!

Funchal Rental Ads See 20% Fewer Inquiries in Late 2024

In 2024, rental prices in Portugal went up by 4.7%. In Funchal, fewer people contacted landlords about rental ads during the last months of the year. On average, each rental ad in Funchal received 18 inquiries before being removed, compared to 23 inquiries in 2023 - a 20% decrease. This does not mean that there is less competition: While it is true that there are more listings on the market than in the previous year, high rental prices make it impossible for many families to even consider renting.

House Rentals: How Do Inquiries Differ Across Areas?

How Funchal Compares to Other Cities

Funchal is one of the cities with the lowest number of inquiries per ad, similar to Lisbon, Braga, and Évora. Other cities like Santarém (37 inquiries), Portalegre (35 inquiries), and Setúbal (32 inquiries) had much higher numbers. Porto (12 inquiries) and Viana do Castelo (11 inquiries) saw the biggest drop in interest. Across Portugal, 18 out of 20 cities saw fewer people contacting landlords. Exceptions: In Guarda, inquiries increased by 29%, while Ponta Delgada stayed the same.

Source: Idealista

Comments