Historic properties in Lisbon centre up by 22%6th July 2016
Isn’t everyone looking for a profitable property investment that’s both attractive and culturally inspiring? Increasingly, the make up of Lisbon’s resurgent property market ticks the boxes on all fronts. After a somewhat abrupt drop due to the financial crisis, the property market of Lisbon’s historic centre is now on the up with a brisk 22.3% appreciation in 2015.
The city of the seven hills has also enforced a new urban renewal policy in order to refresh the original beauty of its neighbourhoods. This indirectly has had a revitalising effect on the entire capital region.
The introduction of a new price index in April 2016, taking into account data such as localisation, renovations and transactions on properties has made it easier to grasp an extensive overview of the price trend and its evolutions. It has also improved confidence. A result of this new index shows Lisbon’s historic centre as the most promising and demanded area in all Lisbon. As a consequence, whilst you must be willing to pay a certain premium to enjoy the lifestyle of the most preserved and typical districts such as Chiado or Santa Marinha, this premium is a fraction compared to other European captials.
“Lisbon has become a very attractive destination for foreign investors” points out Carlota Pelikan, Athena’s Lisbon Destination Adviser. “Even if property prices in Portugal increase at almost double the European average, the real estate market remains much more favourable than in other European capitals.” Indeed, a night in Lisbon’s historic centre is much more affordable than a night in Barcelona, with an average price difference of €65.
The popularity of Portugal’s Golden Visa scheme launch in 2012 is one reason for the increasing attractiveness of Lisbon for foreign investments. The scheme, which has attracted almost €2bn in real estate-led investment gives the buyer unrestricted access to the Schengen zone and paves the way to residency, a process that takes 6 years.
Alongside a sustainable economic recovery upheld by a buoyant tourism demand, no wonder Lisbon has seen eight thousand transactions in its historic district since 2008.
Take a look at our range of properties in Lisbon and find out why now is perfect moment to invest in Lisbon’s properties and to seize a share of the ageless Portuguese heritage.