Lisbon: a flourishing real estate market28 October
Lisbon has certainly seen a huge upswing in the past years, with increased popularity and tourism booming. 2019 has been a year of transformation for Lisbon’s real estate market. With the demand for properties in Lisbon now consistent throughout the year and excellent long-term yields, Lisbon has now joined the same league as Paris and London.
Tourism is predicted to continue growing in the coming years and Portugal has been named the best European destination for the past three years by World Travel Awards. Lisbon has also been named the second most creative and cultural European capital by the European Commission.
With property prices rising by 15.8% over the last 12 months (Confidencial Imobiliário, July 2019) and a GDP growth of 1.8% in the second quarter of 2019, the Portuguese real estate market and economy stand strong. Residential real estate transactions have now reached a 10-year high, and in 2018, the total volume of real estate transactions exceeded €26.1bn.
This is €2bn more than the previous year, registering a year-on-year change of +7.5%.
Portugal's Golden Visa Programme
The Golden Visa Programme allows nationals of countries of non-EU countries to acquire a residence permit in Portugal by investing €500,000 or more in Portuguese real estate. Since the launch of the programme around seven years ago, the Golden Visa programme has generated over €4.85bn for Portugal. Approximately 90% of the amount raised was through real estate investments.
The Golden Visa Programme rose by 29.7% in September. Of the total investment raised in September, 85% (€41m) came from real estate acquisitions. The Golden Visa programme has brought in more than €600m so far this year. Portugal granted the most visas to Chinese investors, followed by Brazilians, Turks, South Africans and Russians.
Whether you are considering relocating or looking for a property investment opportunity, it’s an exciting time to invest in Portugal. Discover our hand-picked portfolio of properties for sale in Lisbon.