The number of hotels for sale in Madeira fell from 13 units to 8 between the last quarter of 2021 and the 1st quarter of 2022, according to the real estate portal ‘idealista.pt’. However, at the time the data was consulted (June), there were already only 7 units for sale in the Region.
“Portugal’s tourism suffered a strong blow in the pandemic, leaving several hotels and restaurants empty for months”, he recalls. “Many tourist businesses were forced to close and this was reflected in the increase in hotels for sale in the country. But now, with the return to normality and reservations for the summer, tourism is reborn”.
And the offer of hotels in the “Portuguese market fell by 14%: according to data from the ‘idealist’, in the first quarter of 2021 there were 218 units for sale in the country, a number that dropped to 187 hotels on the market between January and March 2022”.