Prices for residential real estate in Lisbon are lower than most major European cities. Figures presented at Portugal’s 10th Property Conference held at the Jumeirah Carlton Tower Hotel in London last week showed Lisbon to be one of the most affordable cities for property investment. With an average price of €2600 per m2 Lisbon was lower than Barcelona (€4700 per m2) and Madrid (€5200 per m2). London toped the list with an average price of €21,800 per m2 more than 8 times that of Portugal’s capital city. There were 3500 foreign buyers of property in Portugal during the first quarter, many of them encouraged by the residency visas now on offer for purchases above €500,000.
The latest RICS/Ci PHMS survey for February 2015 shows continuing positive sentiment for the real estate market in Portugal. The survey is consistent with positive economic news as Portugal grew its economy in 2014 and is set to improve on this growth in the year ahead. The survey is good news for any international buyers who have bought for the golden visa at the market low point 6 -12 months ago. It’s also a green light for those considering investing for the golden visa in the months ahead. Prices are increasing every month and the summer is the busiest time for international investors chasing property at the €500k+ price point, particularly in Lisbon.