In February, the real estate portal Idealista reported that five hotels in Madeira were on the market, which is one fewer than in the same period in the previous year.
The publication states that, at the beginning of this year, there were 136 tourist establishments for sale in the country last February. “This number represents a decrease of 24% compared to February last year,” adding that these buildings for sale at the beginning of 2024 are mainly concentrated in the districts of Faro (26 units), Porto (19) and Lisbon (16).
Idealista also highlights the fact that there was a reduction in the stock of tourist accommodation in 11 of the 20 districts and islands analysed between February 2024 and the same month of the previous year, “with the biggest drops being recorded precisely in Lisbon (-14 units), Faro (-11), Coimbra (-7) and Viseu (-6). In Portalegre, Leiria, and Bragança, the same number of tourist buildings are for sale as last year.”
On the contrary, there has been an increase in the supply of hotel establishments in six districts and islands. “The biggest increase was recorded in Beja, since last year there were no units for sale to now have five buildings on the market of this type. Also in Viana do Castelo and on the island of São Miguel, the number of tourist accommodations in the market rose from 3 to 5 in this period. With only one more tourist unit on the market than last year is Setúbal, Évora, and Guarda.”
