How to find the best properties for sale in Lisbon

This year, the prices of properties for sale in Lisbon are lower in one-fifth of Portuguese municipalities. At the same time, Lisbon is considered the third best city in the world for foreigners to live in. These factors create a very favorable environment for those looking to buy or invest in the best properties for sale in Lisbon. We show you how to develop the best practices when embarking on your property hunt.

The average asking price for a property in Lisbon in 2023 was €6,009. In the Lisbon Metropolitan Area, the price is considerably lower, standing at €4,061 per square meter. 

Lapa and Santos

Lapa and Santos are Lisbon’s upmarket districts, home to parliament as well as being the residence of the prime minister and numerous embassies. The areas have a pleasant ambiance with an optimal supply of traditional shops, restaurants, schools, public transport, and hospitals.

Avenidas Novas

When Lisbon expanded in the middle of the 20th century, it did so to the north, resulting in residential and business areas on long avenues. This area became known as Avenidas Novas, “the new avenues”, where beautiful palaces were originally built. Some original buildings have survived.

The Avenidas Novas area is well served by transport, services, commerce and schools, and it is just five minutes from the airport.

Intendente and Mouraria

This is a very central area. A place for the urban professionals, at Intendente you are close to  the metro, train stations, the Teatro Nacional D. Maria II Theater, and Castelo de São Jorge. The Intendente is surrounded by various services such as trade, pharmacies, restaurants, and schools. It’s ideal for those who want to live or invest in a central and historical area of Lisbon.

Campo de Ourique and Estrela

Campo de Ourique is one of the main old neighborhoods of Lisbon. The area has heritage evidence of a great tradition. Campo de Ourique is a relatively quiet area, with green spaces and streets that invite you to take long walks.

Belém, Ajuda, and Restelo

The Restelo neighborhood is located in the westernmost part of the city of Lisbon, next to the Tagus river. Considered the monumental area for excellence and uniqueness in the world, it has two monuments classified  by UNESCO as World Heritage.

Its geographical position is beneficial, providing quick and easy access to central Lisbon, Cascais, and Sintra. It has all the services, shops, schools, hospitals, and transport you may need, and is considered one of Lisbon‘s most beautiful leisure areas.

You may also want to consider some affordable neighborhoods in Lisbon, such as Lisbon South Bay. For more information, read our up-to-date guide on Lisbon South Bay Real Estate.

Parque das Nações

The riverside area of Parque das Nações is a mix between the old and the new. Its surrounding area offers all the amenities of modern urban life.

The area offers all types of services and transport, such as Vasco da Gama Shopping Center, Gare do Oriente (you can catch a bus and train to the main European capitals), Casino de Lisboa, Marina, several restaurants, pharmacies, hospitals, schools, and banks.

It has become an excellent place to live and work. One of the great advantages of the area is its proximity to the airport and access to the highways.

Best property for sale in Lisbon old town

Alfama

Alfama is one of Lisbon’s most traditional neighborhoods. It is a meeting point for people from different cultures and, at the same time, a place that keeps its old popular traditions alive. There are several fado houses, bars, taverns, and cultural/sports collectives alongside commercial establishments of Chinese and Indian origin.

Graça

Lisbon’s highest hill, Graça, overlooks the city, the Castle and River Tagus. The area has many restaurants and parks, where you can experience the real, traditional, Lisbon.

Properties for sale in Lisbon coast, Portugal

If you’re looking for the perfect opportunity to close a deal before the end of 2024, we’re here to help. Some of the best properties for sale in “Linha de Cascais” areas are:

Algés

In Algés, a nice village located on the border between Lisbon and Oeiras, you can purchase a spacious and bright apartment at a reasonable price.

Oeiras

Oeiras is one of Portugal’s premium areas. It is calm and safe, has beautiful beaches, and offers all the services you need, including: markets, pharmacies, renowned schools, and the “Linha de Cascais” train.

Cascais

Some of the most expensive properties in Portugal are located in Cascais. The luxury area Quinta da Marinha maintains fixed prices, but you can find many great properties for sale in the areas close to Lisbon: Cascais center, Estoril, and Carcavelos.

Enlist the help of a professional

Be well organized in your Lisbon property for sale investment.

Understanding the difference between a buyer’s agent versus a realtor

A realtor works for the seller of the property as their client, so you would be better represented by using a buyer’s agent who would remain neutral, making sure you get the best deal possible.

What Goldcrest can do for you

If you are interested in a Lisbon property that is for sale, you can attain a specialized property investment firm such as Goldcrest. As an independent local buyers agent, Goldcrest helps investors get the best deals in their desired locations in Portugal.

Contact the team to access exclusive information on the property market and the best deals available for  Lisbon’s properties for sale and find out how much you can save on your international investments.

How to buy a Lisbon property for sale

Buying a property is as special as it is complex – especially if you are buying abroad. For everything to go smoothly, you should get sufficient information in advance and have a real estate market professional by your side. Ensure you know all the steps needed to buy a  property for sale in Portugal.

Requirements

When you find your desired property, obtain an excerpt from the land register (Certidão do Registo Predial) at the land registry (Registo Predial), which provides information about any encumbrances (mortgages, seizures) on the property. This also provides information about the structure of the property and the legitimacy of the seller.

Property purchasing process

Documents needed to buy a property for sale in Lisbon

• Apply for an extract from the Tax Register (Caderneta Predial) at the Tax Office (Repartição de Finanças), which contains information about the tax situation and tax obligations associated with the property.
• Obtain a license to use the building (Licença de Utilização) confirming that the building complies with local legislation.
• Ask the district council for the Ficha Técnica de Habitação. This document describes the technical properties of the property.
• The previous owner must show you the energy performance certificate.
• You must be able to prove that you have paid the local real estate transfer tax (Guia comprovativo do pagamento prévio do Imposto Municipal de Transações Onerosas de Imóveis).

Purchasing costs

As can be expected, the agreed sales price is not the only cost factor that has to be taken into account when buying a property.

In Portugal, the buyer is liable for all acquisition costs. To avoid unpleasant surprises, you need to have a good understanding and be able to budget for all the costs of buying and maintaining a Portuguese property. The cost of buying a property varies depending on the price of the property.

Taking out a mortgage loan

If you need financing to buy property in Portugal, you will need to budget for the mortgage agreement fees. Certain costs, such as government-imposed stamp duty vary  concerning the borrowed amount but other costs imposed by the bank, such as real estate appraisal service, management fees, and contract commissions, usually have fixed prices.

You should budget around 1% of the loan amount to cover these costs. Mortgage brokers have several ways to do business, but if you decide to take this route and use someone else’s services, some may ask you to pay a commitment fee.

Is it worth buying a property in Lisbon?

Lisbon is a European capital that is still expanding. Portuguese banks are again offering loans for the purchase of real estate, so the time for a purchase could be favorable.

What to consider before buying a property in Portugal

One thing to keep in mind when investing in a property for sale in Lisbon is that, in the event of a future sale, all acquisition costs can be offset against capital gains tax liabilities; so it is important and wise to carefully keep all records and documents.

Check out our article: A Quick Guide to Areeiro, Lisbon, Real Estate.