Luxury City Penthouse in Portugal for Sale: Prices and Best Areas

Top Areas for a City Penthouse in Portugal

London, New York, Paris, Singapore. Maybe Madrid. These are some of the areas that spring to mind when imagining the most luxurious city penthouses. But where are the best places to buy a city penthouse in Portugal?

A city penthouse in Portugal, particularly in Lisbon, offers luxurious living with stunning views and high-end amenities, often in historic buildings or modern complexes. These penthouses range from spacious duplexes with river views to stylish apartments with terraces and city views.

Popular areas to rent or buy a penthouse in Portugal include Lisbon’s historic neighborhoods like Lapa and Parque das Nações, as well as the Cascais and Estoril areas. Expect breathtaking views in these locations, whether it’s the Tagus River, cityscapes, or the surrounding hills. If you own a penthouse in Portugal, the property is highly likely to appreciate over time, meaning that investing in such a unique property is a lucrative long-term investment. 

How to buy a city penthouse in Portugal?

The process to buy a city penthouse in Portugal is the same as with other properties. As a foreigner, you should not have any problems with buying a property in Portugal. With tax-friendly policies, Portugal is a good location to buy property.

The first step of the buying process is to obtain a Portuguese tax number (NIF or Número de Identificação Fiscal). The NIF is one of the main legal requirements for purchasing property in Portugal, since it is required for all fiscal transactions in the country, such as buying a city penthouse, paying property taxes, and setting up utilities.

To apply for a NIF in Portugal, you will need a valid ID or passport and proof of address. Non-EU citizens with a permanent home outside Portugal need to appoint a fiscal representative, also known as a tax representative. This can be a licensed professional, a company, or a Portuguese resident, by assigning them a Power of Attorney (Procuração).

Although not legally mandatory, foreign buyers often open a Portuguese bank account to reduce transaction costs with one of Portugal’s international banks, such as BNP Paribas, Deutsche Bank, Santander Totta, Abanca, or Citibank, to name a few.

Hiring a Portuguese real estate lawyer to perform due diligence is another important part of the buying process, even if it is optional. The lawyer can check for legal ownership and any hidden debts, write legally-binding documents, and evaluate building restrictions.

The next step of buying property in Portugal is to reserve your city penthouse with a Reservation Agreement (Contrato de Reserva) and sign the legally binding Promissory Contract (CPCV or Contrato Promessa de Compra e Venda) with a 10 to 20 percent deposit.

The final step of the buying process is to sign the property deed, also known as the final deed of sale (Escritura), before a Notary and pay the rest of the balance to become the legal owner of your dream property. The Notary (Notário) registers the property in your name with the Land Registry Office (Conservatória do Registo Predial) and with the Portuguese Tax Authorities (Autoridade Tributária e Aduaneira – AT), thereby completing the legal transfer of ownership.

Pro tip: When buying property in Portugal as a foreigner, hiring a lawyer is not mandatory, but can be highly beneficial. The best property lawyers capable of navigating the Portuguese legal system are licensed by the Portuguese Bar Association (Ordem dos Advogados).

Prices of a City Penthouse in Portugal

The prices for a city penthouse in Portugal will invariably depend on where you are buying. Penthouses in Portugal, especially in desirable locations, can range from several hundred thousand euros to several million.

Even within Lisbon, a penthouse by the river is likely to cost more than elsewhere in the city. Other factors that influence the price will be the size of the apartment, the age of the apartment, the views and the facilities (pool, gym, etc), and the amenities, such as security. 

Penthouses can range from 1 to 4 or more bedrooms, with duplex options offering even more space and privacy. Many penthouses include features like terraces, modern kitchens, private pools, gyms, and private parking. 

Penthouse prices are likely to be cheaper than their equivalents in other European countries. This is because prices here are generally lower in comparison. A penthouse for sale in Portugal will typically range from €600,000 to €2,700,000. However, prices can be higher and lower than this. Consider potential maintenance costs associated with penthouse living, too, such as terrace upkeep or pool maintenance. 

The table below outlines the average costs of a house in Portugal’s main regions per square meter.

Source: Confidencial Imobilario, Q4 2025 data

Where to find the best places for a city apartment in Portugal?

Lisbon, Porto, and the Algarve. These are the three hotspot locations that should be your first port of call when you are browsing for a penthouse in Portugal. However, you also have some very extravagant properties in Cascais and Tróia that could be your luxurious recluse. Prices are more affordable in Portugal’s low-density areas, like the Alentejo, the Douro Valley, and parts of the Algarve’s interior.

Lisbon

The gleaming cosmopolitan capital of Portugal. Home to traditional tascas (typical Portuguese restaurants) and Michelin-star eateries. Where the old ways of life are perfectly contrasted with the tech and startups that are setting up shop in the city. Taking the time to enjoy a café, perhaps with a pastel de nata, is almost sacred. 

A Lisbon penthouse may be the ultimate way to view the city. With stunning views of the River Tejo and the Ponte 25 de Abril bridge, often compared to the Golden Gate Bridge of San Francisco, owning a penthouse in Lisbon provides you with dream views from morning until night.

With the typical colorful houses visible from most high points in the city, you have a constant feeling of connection to the city. Below, we’ve pinpointed some locations in the city that could be extremely desirable to own a Lisbon penthouse, offering spectacular city views. 

Lisbon Center

The cosmopolitan Lisbon offers equal parts tranquility and bustle. Modern penthouses can be found in many parts of the city. Close to Marques do Pombal, for instance, you have views of the most exclusive avenue in the country, Avenida da Liberdade. Here, you can still see the River in the distance. Luxury buyers here include Cristiano Ronaldo. Along the avenue, you have high-end rooftops and bars, where you can enjoy the balmy summer nights in style.

Elsewhere in the city, you have various locations where you will be able to buy a city penthouse. There are many different neighborhoods in the city, and each will provide you with something unique. Take Arroios, the coolest neighborhood at the moment, which offers multicultural flair. Or Príncipe Real, with its colorful 19th-century mansions, lush gardens, and air of modest luxury. It simply depends on which area of the city and which property catches your eye. 

Parque das Nações

Perhaps more reminiscent of an American city, Parque das Nações is definitely not your typical Portuguese neighborhood. With the cable car moving back and forth across the sky, you may even feel like you are in some futuristic film. 

If you were to look at Parque das Nações on the map, you may see that it is a little further out of the city, and you may be concerned that it lacks some amenities. On the contrary,  the large Vasco da Gama shopping center is located here, as are some of the top restaurants in the city. Indeed, many flock to this part of the city for its shopping and culinary scene. 

You can see both locals and expats enjoying the late evening sun by the river here with a cold beer. Buying a penthouse here provides you with the sunrise of the Vasco da Gama bridge and the River Tejo. 

Belém

Properties by the river, for example, close to Belém and Algés, offer outstanding river views. Close to the famous Ponte de Abril bridge, you have the promenade of Lisbon, where you can cycle and walk close to the river. A little further to the west, you have the beaches of Carcavelos, Estoril, and Cascais. If you are looking for a penthouse outside the city center, and with a little more space, then Belém offers the perfect fix. 

Cascais

The most exclusive postcode in Portugal. Internationally recognized for its high-end restaurants, luxury yacht marina, and beaches. Although not specifically a city, owning a penthouse in this lucrative area would be the ultimate way to relax in style.

With views of the seaside town and the gleaming Atlantic, you can remain in your tower of peace while daily life passes by. The bustle in the summer months as locals and expats take a trip to the beach is noted here, yet in the winter months, Cascais is typically very calm, a contrast to the busy summer months. 

Cascais lies at the doorstep of Sintra National Park, where Madonna once lived. Also, a short 30-minute drive from Lisbon, you have easy access to the capital.

If you would like an overview of the different neighborhoods, take a look at our article on Cascais real estate investment. Take Estoril, for example, where Ian Fleming famously found inspiration for the James Bond spy novels in Estoril Casino. 

The Algarve

Endless sunny days, a beach close at hand wherever you are, and the fresh Atlantic coast enticing you for a swim in the summer heat. The smell of grilled golden bass or squid, crisp Vinho Verde by the glass, and maybe even an indulgent cocktail. Over the years, the Algarve has transformed from a sleepy fishing region to the leader in tourism opportunities that caters to all expats – retirees, sunseekers, and those looking for a fabulous touch of luxury. 

So, if you are looking for a top city penthouse in Portugal, the Algarve can provide you with some truly stunning properties. The cities of Portimão and Albufeira offer viable properties, close to the glimmering Atlantic. 

Slightly further east, you have the resorts of Quinta do Lago and Vale do Lobo, where you can find killer penthouses close to Vilamoura. Here you have amazing views and all the amenities that you could possibly need.

This area is renowned for its iconic beach resorts and a multitude of amenities. Cultivated with luxury in mind, the market is focused on creating not just the most sought-after lifestyle but also on making each day a unique experience. If you are seeking vacation homes in Portugal, the Algarve is a popular destination. 

Porto

In the North of Portugal, Porto has fast become the city of the moment in Europe. Forbes has highlighted that Porto is one of the best cities to invest in at the moment. With house prices considerably cheaper than in Lisbon and demand continuing to increase, it is not difficult to see why. 

With its historic center, cultural significance, and buzzing riverside restaurants, Porto is a special city indeed.  The city is known to have some of the friendliest people in the country. Maybe it’s the delicious food, the Douro wine, or the less hectic pace of life here when compared to Lisbon.

Imagine waking up in your penthouse to see the charming city waking up. The River Douro passes by slowly. The breeze from the ocean comes in through the window. Or winding down for the day with a glass of Douro or Port, with the gleaming light from the wineries shining brightly from the opposite side of the river. 

Porto offers a splendid selection of locations. From its historic center, where you can feel the beating heart of the city, to penthouse views of the glimmering Ocean from Foz do Douro. You even have potential properties on the other side of the River Douro. Vila Nova de Gaia offers beautiful beaches, stunning restaurants, and may be a little more friendly for your wallet than on the Porto side. 

Tróia

While expats and locals alike typically go for Lisbon, the Algarve, and Porto, the south-west of the country is an upcoming area to invest in. Indeed, Tróia is an indulgent gem that is now turning the heads of expats and investors. 

The Tróia peninsula offers mile after mile of pristine white beaches, turquoise-blue waters, and pine-forested sand dunes. Around the peninsula, you have some well-thought-out tourist developments and beautiful apartments. A penthouse here would be the Crème de la Crème. 

With fine dining, a casino complex, and chic bars, the nightlife is one you won’t forget. Close to Comporta, the “Ibiza of Portugal”, this region of Portugal is unlike the rest of the country. The high-class image of Tróia emerged in the 1980s when the Tróia golf club was built, and it remains one of the best to this day. 

The contrast of exclusivity and wealth with the tranquility of nature and pristine beaches is very unique. If you are looking to buy a city apartment in Portugal that is both stylish and calm, Tróia could be the location for you.

The Islands

The unique autonomous islands of Portugal are highly desirable. Madeira and the Azores offer very different experiences, yet both remain utterly unique. To buy a city penthouse in Portugal, the islands could be an excellent lifestyle and investment opportunity. 

Madeira

Perched in the middle of the Atlantic, the islands of Madeira and Porto Santa are islands of calm and tranquility. Here, the pace of life is slower than in continental Portugal. Madeira has a mild climate and has even been coined the “island of the eternal Spring”. With long sandy beaches, incredible fauna and flora, and landscapes worth hiking for, Madeira is perfect if you like a little adventure or prefer to sit back, dream, and relax. 

There are two things to consider when buying in Madeira. Firstly, the island is very mountainous, with 180 tunnels cutting through the terrain. Indeed, the airport runway is probably the flattest part of the island. Indeed, the runway needed to be extended because it was too short.

Secondly, the island is very prone to weather changes since it has its own unique climate. It is said that Madeira can experience all four seasons in a day. Therefore, when buying, take into account that good weather is not always a given in all parts of the island. One part can be cloudy and rainy, while down below in the valley, you can see the sun shining. 

The most developed areas of Madeira are on the southern side of the island. This is where the weather tends to be more stable. Close to Funchal, you have excellent properties that could be a good place to buy a city penthouse. You may be surprised by the capital of the island. Funchal boasts all the amenities that you could need and is a very cosmopolitan city. 

The Azores

Vivid green, rolling hills, and a beautiful coastline. Buying in the Azores is for those who want to be at the heart of nature. Not so busy with expats, there is a tranquility to the Azores that you can imagine has not changed since the islands were discovered in the fifteenth century. 

The capital, Ponta Delgada, is where most of the development on the island has evolved. If you are therefore looking for a city penthouse in the Azores, you will probably find it here. The Azores are renowned for their seafood specialties, with some simply excellent restaurants. 

However, in comparison to Madeira, the Azores are still developing their luxury market. Although there are many amenities and services to cater to your wishes, it is not quite as advanced as in Funchal. Nonetheless, you have your five-star hotels, resorts, and top-quality restaurants here, so do not let this put you off. If you are looking for an island of calm, then the Azores could be the ideal island for you.

If you are thinking about buying property in Azores or Madeira, make sure to pay either island a visit (depending on your preference) to determine which part of the island is best suited to you. Keep in mind that engaging with a buyer’s agent or real estate agent in Azores or Madeira who is well acquainted with the market can make the process of finding your ideal property much more straightforward when snapping up your dream home.

Goldcrest: How We Can Help You 

Goldcrest is the first buyer’s agent in Portugal. We provide expert, impartial advice on real estate investments and how to buy property in Portugal. From scouting out the perfect property through to property acquisition, we have you covered throughout the process. 

Unlike traditional real estate agents in Portugal who represent the seller, we are dedicated exclusively to protecting the buyer’s interests. 

If you are looking to purchase property in Portugal, don’t hesitate to get in touch. Our team of skilled experts is available to solve all your real estate doubts, helping you with the property search and offering insightful expertise and strategic advice. 

Why choose Goldcrest?

• Local knowledge: With offices located across Portugal, our presence nationwide allows us to assist you personally across the country.
• Independent service: As an independent buying agent, we do not represent any development or project. Our service is entirely tailored toward each individual client, providing you with everything you need to secure the perfect property at the best possible price.
• Streamlined process: Our real estate agents speak English and Portuguese, and our service is completely focused on providing you with a hassle-free buying experience, saving you time. We can also help you buy property remotely.
• Experienced team: Our expert real estate team has a vast local knowledge of the Portuguese property market. We have cutting-edge technology and metasearch tools at your disposal to provide full market coverage, ensuring the best investment choices and negotiated prices.
• Network of partners: We have a close network of partners, including lawyers, property management services, builders, architects, designers, and landscape gardeners, again saving you time and hassle by providing you with trusted experts in their field of work.