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Lisbon is the capital and the largest city of Portugal, lying in the western Iberian Peninsula on the Atlantic Ocean, and the River Tagus.  Most of the Portuguese expeditions of the Age of Discovery left from Lisbon during the 14th and 15th centuries. Today it is a city of contrasts and one of the greatest cultural center of Europe.

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  • "Albertina was the perfect real estate agent for us, like she will be for you. She is serious, always listening, rigorous and with an amazing knowledge of the local real estate market. Our family warmly thanks him for the dream property he helped us find. "

    J.C.L - Orleans

  • "Thank you to Albertina for his excellent services, I am thrilled to now be an owner in Lisbon"

    Marie C. - Neuilly sur Seine

Real Estate Market Evolution - 2015

Out of all of Portugal, Lisbon is without a doubt the most dynamic area in terms of real estate this year.
Prices have withheld the economic crisis and have been strongly increasing over the last 2 years ; 

Real estate market portugal

Monaco, United Kingdom, France, Switzerland, Russia, Italy, Sweden, Finland, Luxembourg, Austria, Greece, Netherlands, Czech Rep., Spain, Denmark, Germany, Ireland, Andorra, Poland, Montenegro, Turkey, Slovenia, Ukrain, Belgium, Lettonia, Portugal, Lituania, Romania, Estonia, Cyprus, Serbia, Slovakia, Malta, Bulgaria, Hungaria, Macedonia, Moldavia. 1m² = 10.76SF

The decrease in price following the economic crisis (2008 -2012) was of only 10% on Lisbon real estate market, compared to the sliding of the overall Portuguese market, at -40 to 60 % for the same time period.

The average price by m² in Lisbon is currently between 2,600 and 2,700€ /m2 for an apartment, and between 3,200 and 3,400€/m2 for a house (1). These numbers increase if you are looking at brand new construction.

Within the historical center of town, the average price is between 2,800 and 3,600€ depending on the neighborhood. These prices are very low when compared to other European capital cities, making Lisbon a great place to invest in real estate.

It is indeed so sought after that there recently has been a shortage of offers in some neighborhoods, which will definitely bring an increase in property prices.
Foreign demand (mostly French, Chinese, English, German, Russian and Belgian) is the principal cause of this price increase. The tax benefits given to foreigners (golden visas and non-habitual residents) may explain the massive foreign real estate investments in the Portuguese capital city. We thus advise potential buyers to invest as quickly as possible.


Neighborhood Comparison
Below are the 5 most expensive Lisbon neighborhoods (price/m²):

1. Santo António, including Amoreiras,  Rua Castilho or Avenida da Liberdade. The price/m² for a luxury apartment can reach 7,500€, while the average is about 3,900€.

2. Da Misericórdia, including the Chiado, Principe Real or Estrela: same prices, or slightly lower.

3. Avenidas Novas where the price for a luxury apartment can reach 6,800€/m2, with an average of 3,600€.

4. Santa Maria Major including 12 subzones such as Sé, Castelo, or Alfama. For a luxury apartment, the price can reach 6,500€/m², with the average at about 3,200€.

5. Parque das Nações, a recent neighborhood which was where the 1998 World Fair took place, was until recently the most expensive in all of Lisbon. This could be explained by its modern architecture attracting a lot of wealthy foreigners (particularly Chinese).

Of course these prices are influenced by several factors, such as:

  • New or renovated pre-war buildings
  • Building facilities (elevator and/or parking garage),
  • Nearby tourist areas, easy shopping access,
  • Sought-after neighborhood or more residential,
  • Upgrade/renovation programs under way…

This is a variety of criteria that only the potential buyer will be able to judge during his visits in Lisbon.

Our suggestions:

The more touristy neighborhoods such as Chiado, Avenida da Liberdade, or Principe Real are obviously very popular and thus currently the most expensive by m². The purchase price being already very high means most likely a lower return on investment.

Other popular neighborhoods such as Alfama, Graça, or Mouraria, which are more typically Portuguese, with lots of charm and renovations under way, are more affordable with prices between 2,200 and 4,000€/m². Thus the investment can be very profitable, from a rental standpoint or for mid to long-term resale.

West of Lisbon, neighborhoods such as Ajuda or Prazeres, may be relatively far from the center of town (20mn by bus) so they are less sought after by investors. However, because these neighborhoods have not really been showcased by Real Estate Agencies, they have not been discovered yet by investors and you can find some jewels at extremely low prices (> 2,500€ / m2).

 Example: a 130m²/1,400SF duplex (building from the 30’s), 40 m²/430SF terrace, with view of the river Tagus => 250,000€.

Sources :
(1) INE (instituto nacional de estatísticas)
(2) SIR (Sistema de Informação Residencial da Confidencial Imobiliário)