Where to find properties for sale in Lisbon and Lisbon Coast
Portugal’s capital has been enjoying a bit of a moment: not just a tourism and cultural hot spot, it’s become a magnet for foreign investors. It’s always been a great city but a mixture of affordability and innovation has made it a fashionable place too.
There’s a new museum of art, architecture, and technology (MAAT), the waterfront has had a facelift, and the start-up scene is bringing design shops, lively nightspots, and a great food scene.
Over the past four years, prices for a Lisbon property have risen quite spectacularly - for Portugal but also in Europe too - with popular districts rising 30 per cent between 2013 and 2016. Prices are slowing a little now, but the market is still hot.
Why the transition? A change in tenant laws fuelled the regeneration of old and run-down areas of the city, whilst government incentives to attract overseas investment - including the golden visa scheme where a non-EU buyer spends €500,000 on a property to get a residency permit - have attracted hundreds of Chinese, and now Turkish purchasers, amongst other nationalities.
In the historic districts of Chiado, Barrio Alto, Principe Real, Rossio and Alfama old listed buildings are being renovated into luxury apartments. These suit foreign buyers who love to be in the historic centre with all its culture and nightlife on the doorstep. In fact actor Michael Fassbender has bought a home in Alfama.
As prices have reached €10,000 per sq meter in Chiado, demand has started spreading to other areas that are half the price such as Santos and Lapa. Expect to pay around €300,000 for a new apartment.
Outside the centre, the former fishing village of Cascais has long been popular with retirees and second-home buyers - it’s laid back, near the beach and only half an hour from the airport. You’ll get change from €200,000 for a one-bed apartment but there are plenty of luxury offerings too, including apartments at the new Sheraton Cascais resort. The same might be said of next-door Estoril, a chic enclave with grand old hotels and casinos that inspired James Bond creator Ian Fleming.
Look south of Lisbon instead of north and you hit Setubal and the Troia peninsula - a summer playground that is a Portuguese version of The Hamptons and where local boy Jose Mourinho owns homes and runs a football academy.
Lisbon is the newly dynamic capital of Portugal that is enjoying another Golden Age. Despite heady price growth, it’s still affordable compared to some major cities and it’s a great time to own a home there.
Use the bar above to search for a property for sale in Lisbon and Lisbon Coast.