Housing prices in Lisbon historic centre ​​rose 2,9%

  • Home >
  • News >
  • Housing prices in Lisbon historic centre ​​rose 2,9%

Housing prices in Lisbon historic centre ​​rose 2,9%
Reading time: 2 minutes
Published: 7th September 2020, 11:44am

According to the Price Index of the Historic Center of Lisbon, published by Confidencial Imobiliário, housing prices in Lisbon historic centre increased 2,9% in the first half of 2020 compared to the previous semester.

These data apply to the behaviour of transactions in the historic centre, which includes the parishes of Santa Maria Maior, Misericórdia and São Vicente.

In the long term, according to Ci, housing prices in the historic core “remain in negative territory, with a year-on-year adjustment of -1.1% in the first half of 2020,” which shows an improvement in the real estate market in Portugal, compared to the previous semester, when this indicator was -3.4%, which shows a decrease in the year-on-year appreciation that has been sustained since 2015.

Although housing prices might have increased, the sale of properties increased by 23% in May, which means that even during the confinement period, the market in Portugal was able to maintain a significant activity level.

Lisbon was also highlighted as a housing market that will gear up for recovery after the pandemic the world is facing, next to major cities like New York, Sydney, London, and Auckland. 

“Portugal’s successful handling of the pandemic in comparison to their European neighbours has meant that they are among the first to ease restrictions. This, combined with strengthening demand and limited prime supply, will underpin Lisbon’s price growth, which is forecast to rebound by 5% in 2021,” said Oliver Banks from Knight Frank Asia Pacific.

The rapid response by the government to the crises and a relatively limited number of cases are incentives for incoming investors to search for a house in Portugal. Hence, Portugal’s lockdown period saw a remarkable rise in applicants for the Portugal Golden Visa. Investments surpassed €146 million only in May (an increase of 192% compared to May 2019, which was €50 million).

Also, as travel restrictions between countries are loosening up, families and individuals are rushing to find a home and become citizens of the safest countries in the world. Portugal was considered as one of the safest countries to travel to after the pandemic and has recently started to provide a Health Passport and a Travel Insurance to incoming visitors, in order to ensure everyone can travel around the country safely and with confidence. Learn more about these insurances here.

If you’re interested in investing in the Portuguese Real Estate Market, get in touch with us online and explore our wide range of properties, from beachfront villas to city centre apartments! 

10th September 2020
What is the Portuguese language test for citizenship? The  CIPLE…
4th September 2020
Many overseas investors look at investments as a natural choice to…

Buying Property in Portugal

Portugal Homes has very experienced and knowledgeable professionals working with some of the most established and reputable developers Portugal has to offer. Our vast experience allows us to guide you through the best investment choices.

Whether you want a holiday home or an investment property, we select the best units for your profile and take care of all the process from start to finish. Even after the sale! Our After Sales services assume the responsibility of furnishing your property at your taste, taking care of the property in your absence, managing the rentals if you wish to rent your property when you’re not in Portugal and so much more!

To learn more about the Portuguese Non-Habitual Resident Program and our After Sales services, please fill the form below.

The overall experience was great from follow up to After Sales. I would like to give special thanks to Mr. Simon, Ms. Francisca and Ms. Mariana.

Investor from UAE

Luísa is a very understandable person, she knew exactly what we were looking for and even showed us and gave us more choices to pick from. Very professional advice, hospitality and service.

Roshana (Zulfiqar) Mian | Hong Kong

My property advisor, Mathew McGurn, was truly excellent! His knowledge, professionalism and attention to details was much appreciated. He worked hard to not only find a property that fit all my requirements, he negotiated successfully with agents making sure my offer won over other buyers bidding for the same property. In addition, his communication skills, prompt response time and general help with my getting settled in Portugal went above and beyond the normal.

Investor from the USA

Dear Sérgio, thank you so much for arranging our 1º Esquerdo place. We love our place, and your attention to detail is very much appreciated. 

Tim Thronson - Investor from the USA

A full service, one stop opportunity. Very easy for us a foreigners. Ryan Dunn went above and beyond for us. We appreciate him and his work!

Jose Arias - Investor from the USA

Everyone I met with and spoke with has been extremely knowledgeable and professional. Dealing with native English speakers who understand things from my perspective was very reassuring. Finally, knowing that I had Matthew in my corner gave me the confidence to proceed with the process of buying an apartment in Lisbon. Thanks very much.

Investor from the USA