Your guide to buying a house in Lisbon, Portugal
30 . 9 . 2024 Living in Portugal
Buying a house in Lisbon is a dream for many, whether they're looking to live in a vibrant city rich in history, or those wishing to invest in a dynamic and growing property market. This cosmopolitan city combines tradition and modernity, offering an enviable quality of life.
In this article, we'll explore what makes Lisbon such a popular property-buying destination and how to buy a property in Lisbon, Portugal.
Lisbon is the capital of Portugal and one of the oldest cities in Europe. Known for its picturesque hills, narrow streets and stunning architecture, Lisbon attracts more and more foreigners interested in buying property, whether for permanent residence or investment.
In recent years, the property market in Lisbon has shown a steady upward trend, driven by high demand from national and international investors. Prices have risen, but the city still offers good opportunities, especially in developing neighbourhoods or those that have undergone recent renovations, such as Alcântara and Marvila.
Lisbon is rich in history, culture and natural beauty. Among the city's most emblematic sites are:
Exploring Lisbon is a journey through time, with every street and neighbourhood telling a different story.
Living in Lisbon is a unique experience. With a mild climate for much of the year, the city offers an excellent quality of life. The public transport infrastructure is efficient, with a metro, tram and bus network that makes it easy to get around the city. Some parts of Lisbon are also accessible by bicycle.
Lisbon is also a city that values its proximity to nature. Its hills provide spectacular viewpoints, and Parque das Nações or Parque Eduardo VII, offer green spaces for relaxing and outdoor activities. The city has come to be considered one of the best destinations in Europe to live in, especially for its safety, hospitality and relatively affordable cost of living compared to other European capitals.
Lisbon's gastronomy is one of its great attractions. From the famous pastéis de nata in Belém, which attracts visitors from all over the world, to the fresh seafood and fish that fill the tables of local restaurants, the city offers a wide variety of flavours.
Grilled fish dishes such as sardines and sea bass are popular, as is cod, which can be found in countless variations. Lisbon is also known for its fado, the melancholic music that always goes well with a good meal. Neighbourhoods like Alfama and Mouraria are great places to combine a traditional meal with the experience of listening to live fado.
However, in addition to traditional cuisine, Lisbon has evolved to become a centre for modern and international gastronomy. Today, the city is home to a wide range of innovative restaurants that reinterpret local ingredients with contemporary techniques, creating unique gastronomic experiences. Several fine dining restaurants, some awarded Michelin stars, offer exquisite dishes, with several Portuguese chefs listed among the best restaurants in the world. This balance between classic and contemporary makes Lisbon an unmissable destination for lovers of fine dining.
In recent years, the property market in Lisbon has attracted a wide range of buyers, from young Portuguese professionals and families to foreign investors. The most sought-after areas to buy a property include the historic city centre, such as Chiado, Baixa and Príncipe Real, where prices tend to be higher due to the privileged location and architectural beauty.
However, areas such as Areeiro, Campolide, and Ajuda have seen increased demand, offering more competitive prices and good infrastructure. For those looking to invest in luxury property, areas such as Avenida da Liberdade, Avenidas Novas and Lapa are popular choices. Alcântara and Marvila are emerging as promising destinations for modern, affordable projects.
In addition, the rental market in Lisbon remains dynamic, offering good options for those looking for a temporary home or wishing to generate income from their property. However, rental prices have also risen in recent years due to high demand and a shortage of properties.
Lisbon is a diverse city, and each neighbourhood has its own personality, advantages, and disadvantages. When choosing where to buy a house, it's essential to consider factors such as proximity to work, accessibility of public transport, quality of schools and infrastructure in the area.
However, Lisbon is more than its city centre. Around Lisbon, there are other cities and towns with charms to discover:
Living in Lisbon is synonymous with being at Portugal's cultural, historical and social heart. The city offers a unique quality of life, with a mild climate, easy access to public transport, and a balance between tradition and modernity. It also has a vibrant gastronomic scene and a lively nightlife. The countless green spaces and viewpoints with panoramic views make Lisbon a dynamic and captivating place, ideal for those looking for urban living with access to everything a European capital has to offer.
Cascais is a charming coastal town that combines stunning beaches, a pleasant climate, a relaxed atmosphere and an international community. With a good network of schools and proximity to golf courses and marinas, Cascais is ideal for families. Moreover, the short distance from Lisbon allows you to enjoy the best of both worlds: peace, quiet and proximity to city life.
The town of Sintra, surrounded by green hills and characterised by its romantic palaces and castles, is a paradise for lovers of history and nature. The tranquillity, the proximity to the Serra de Sintra Natural Park, and the feeling of being immersed in history make this the perfect place for those looking for peace and a superior quality of life. Sintra is well connected to Lisbon, allowing easy access to the capital when necessary.
The Margem Sul (so-called because it's on the south bank of the River Tagus) offers a unique combination of proximity to Lisbon and a more affordable quality of life. Its cities and towns, such as Almada, Seixal and Barreiro, have grown in infrastructure, commerce and services. The region is known for its fine sandy beaches on the Costa da Caparica and extensive green areas, making it ideal for families and lovers of outdoor sports. With more competitively priced properties and a transport network that includes the train and ferries to Lisbon, the Margem Sul is an excellent option for those who want to be close to the city centre, but with less urban stress.
Our experienced team has compiled some frequently asked questions about buying a property in Lisbon.
Yes, foreigners can buy property in Lisbon without restrictions.
The process of buying a property in Lisbon follows a few stages:
NEWCO, as your local partner in Portugal, can take care of all these steps, from obtaining your NIF and bank account, to helping you choose the property and the deed, and subscribing to basic services.
Lisbon continues to be an attractive property market, with strong national and international demand. Prices have risen consistently, but the city still offers exciting opportunities for buyers and investors. If you are considering a long-term investment, Lisbon continues to have the potential for appreciation, especially in emerging and less explored areas. However, it's crucial to assess the market and consult experts to make an informed decision.
Choosing the single best place to buy a property in Lisbon is impossible, as the choice will vary according to your preferences and needs. The best advice we can give you is to seek the help of a real estate agent who knows Lisbon's various neighbourhoods, cities, and regions well and can combine the lifestyle you want with the right type of property and a good location.
Margarida Monteiro, our real estate agent in Lisbon, has vast knowledge of the Portuguese capital and its surroundings and is ready to help.
Property prices in Lisbon vary according to location and type of property. In the historic centre and premium areas such as Avenida da Liberdade, prices are higher than in more peripheral neighbourhoods such as Benfica or Odivelas, which have more affordable values per square metre.
The time it takes to buy a house in Lisbon can vary. Generally, the process can take between 1 and 3 months, depending on how quickly the documentation is prepared and whether financing is required. For foreigners, it is crucial to check legal and tax issues. Still, with the support of a local partner, the process tends to be simple.
Finding a good estate agent is crucial to a successful purchase. Margarida Monteiro, our real estate agent in Lisbon, has extensive experience in the local market and offers a personalised service, knowing the best neighbourhoods and trends. With an approach focused on your needs and objectives, we guarantee you will have the support you need at every stage, from property selection to closing the deal.
"Hello, I'm Margarida and I'll be happy to explore the nooks and crannies of Lisbon to find your dream property. From cosy flats to luxury properties, your lifestyle will be our inspiration for this important journey. To get started, just contact us!"
