The opportunities for real estate investment in central Lisbon right now are many, varied, and compelling.
In terms of neighborhoods, there’s a wide variety to choose from, each one with its own special character and charm. You’ll find a vast array of home styles and prices to suit all tastes.
Following is a summary of the preferred residential neighborhoods for foreigners in Lisbon right now.
Chiado: The cosmopolitan ambience combined with the culture and nightlife make this one of the most sought-after neighborhoods among foreigners. A brand-new four-bed apartment can cost you up to 2.5 million euros, a one-bed unit would cost around 85,000 euros.
Príncipe Real: Similar to Chiado, Príncipe Real is also preferred by foreigners, and the number of apartment purchases has also increased in this region. A luxury four-bed apartment in a refurbished building can be listed at 1.3 million euros.
Lapa: For those who prefer calm and tranquility, the emblematic neighborhood of Lapa is one of the best options. With most apartments enjoying a view over the Tagus River, the prices for a new or renovated three-bed apartment can easily go up to 1.1 million euros.
Estrela: Next to the Lapa neighborhood and famous for its beautiful park, O Jardim da Estrela, is the elegant and peaceful barrio of Estrela. The average sale value per square meter is 2,193 euros, and the average price for a brand new three-bed apartment is 1.3 million euros.
Alvalade: Known for its neighborly community and charm, the neighborhood of Alvalade offers great proximity to some of the most acclaimed colleges in the city. The average price for apartments ranges from 3,500 euros to 4,000 euros per square meter, with available one-bedroom units averaging 180,000 euros (at 50 square meters), two bedrooms at 306,000 euros (averaging 81 square meters). Pricing for three-bed apartments averages 342,500 euros with units ranging from 70 to 116 square meters.
Parque das Nações: Parque das Nações (created as a result of the 1998 Lisbon World Expo) offers an average selling price of 3,016 euros per square meter. The properties are recent and modern, and this is one of the main residential investment destinations for the Golden Visa.
Avenidas Novas: With an average sale price of 2,397 euros per square meter and constructed mostly in Art Nouveau architecture, this quiet barrio is known for the size of its housing options… they are much larger than the average city dwelling. A new three-bed costs about 1.1 million euros on average.
Graça: Graça is one of the most touristy barrios in Lisbon with a demand that remains higher than supply. A three-bed apartment located in one of the recuperated buildings can cost around 957,000 euros.
While those prices seem high, with some digging around, it’s possible to uncover attractive options at a more affordable price. Here are some current samples I found for sale around central Lisbon:
- Totally renovated two-bed apartment with 53 square meters of living space and great natural light. This unit is close to all amenities, including banks, schools, cafés, restaurants, and public transport—and minutes from golfing and beach lounging. Price: 151,000 euros.
- A two-bed, two-bath apartment is a great bargain in the heart of Baixa, one of Lisbon’s most celebrated districts. The brand-new renovation spreading over 70 square meters features an open floor plan with clean lines, a simple palette, and wood accents for warmth. Price: 300,000 euros.
- Fourth-floor apartment in an elegant old building. The unit features 96 square meters of living space with two bedrooms and a third room that can be converted, heating, air-conditioning, parking, and great views from the balconies. And all this is just five minutes walking distance from Baixa’s cobbled streets. Price: 230,000 euros.
- In the heart of Baixa, a recently-refurbished sanctuary of clean lines and subtle finishes in 41 square meters. The unit includes one bedroom, bathroom, air-conditioning and heating, a terrace/balcony, and a children’s play area on the grounds. From your door, you are only a few steps from the main station of Cais do Sodré, where you can connect to every part of the city—by metro, bus, boat, train, or taxi. Price: 250,000.
- A spacious two-bed, two-bath apartment with 110 square meters of living space, plus a balcony with a sea view. The condo also features a fully-equipped kitchen and one bath ensuite. The building amenities include a swimming pool, garden, children’s playground, gym, and underground parking. Close to the beach and with a golf course nearby. Price: 320,000 euros.