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This year, properties for sale in Lisbon prices 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.

What you need to know about Lisbon property for sale

According to a study by Internations, the majority of expats (82%) say they feel at home living in Lisbon. Moreover,  79% say they are happy with living in Lisbon and are satisfied with their social lives, which is more, than the average cited in other metropolises (59%).

Expats living in Lisbon are satisfied with their professional situation (79% against 65% on average in other cities), but almost three out of eight respondents (37%) said they had difficulty finding a home, a value higher than that observed in the averages of the other metropolises analyzed (27%). In some cases, this is due to the difficulty in navigating the real estate market as an expat. To get around this factor, and secure your dream property for sale in Lisbon, we suggest that you invest in a professional buyer’s agent when going for a property for sale in Lisbon.

Can expats buy properties for sale in Lisbon?

Absolutely. According to INE (the Portuguese Statistics Institute), non-residents were responsible for 8.5% of the property sold in Portugal in 2019 and, in terms of value, they represented 13.3% of the total amount traded in Portuguese real estate

After all, foreigners paid around 176.4 thousand euros per property (3.1% more than in 2018), which is 56.8% above the global average market value.

Last year, according to INE, 230,776 properties were transacted in Portugal, for a total value of 25,955 million euros. Of these, 19,520 properties were purchased by non-residents.

Best areas to find property for sale in Lisbon Portugal

A city of contrasts, Lisbon stands out for its security, quality of life, ease of adaptation for expats, and bright and mild climate. But there are many more reasons for living in Portugal.

Some of the best areas to find property for sale in Lisbon are:

Bairro Alto

Bairro Alto is an icon and a sensitive area of the city, with a series of urban, architectural, and regulatory constraints. New developments in the area are characterized by the least intrusive interventions possible. Lisbon’s municipal council intends to mobilize municipal heritage, rehabilitate buildings that are abandoned, and integrate them in a qualification strategy.

You can find a 104 sq.m.T2 flat for sale in Bairro Alto for €890,000 (previous price €980,000. A 9% drop).

Lapa and Santos

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

You can purchase a 9,600 sq.m. historic building in Lapa for around €5,000,000.

On sale, you can find a 40 sq.m.T2 flat in Lapa for €157,500. The previous price was €179,000, constituting a 12% drop.

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. They 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 transports, services, commerce andschools, and it is just five minutes from the airport.

You can purchase a building converted into a student residence here for €6,500,000 (total area 14,600 sq.m.).

On sale, you can find a 130 sq.m. T3 flat in the popular Edifício Tridente — situated in  Entrecampos, Avenidas Novas— for €425,000. The previous price was €439,000, constituting a 3% drop.

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.

You can purchase 78 sq.m. T1 flat for sale in Anjos for 525,000. The previous price was 550,000 € (a 5% drop).

Campo de Ourique and Estrela

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

On sale, you can find 192 sq.m. T4 flat for sale in Santo Condestável for €1,050,000. The previous price was €1,150,000 (a 9% drop).

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 transports you need, and is considered one of Lisbon‘s most beautiful leisure areas.

You can buy a building in Belém (four fractions, three T2 apartments, and a T1 on the top floor) for around €1,250,000.

On sale, you can find a 110 sq.m. T2 flat for sale in Rua da Junqueira for around €600,000. The previous price was €620,000. Needless to say, in this premium area, the prices are very much stable.

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.

You can buy a 261 sq.m. detached pool house for sale in Parque das Nações for €3,250,000. The previous price was € 3,700,000(a 12% drop.).

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.

You can find a 98 sq.m. T4 flat for sale in Alfama (Sé) for €510,000. The prices are very stable in this historical area.

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. A T2 flat for sale in Graça can cost around €485,000.

A 350 sq.m T5 flat for sale in Graça at the condominium “Villa Graça”, one of the most exclusive and private in Lisbon, can cost around €1,700,000. The previous price was € 1,790,000 ( a 5% drop).

Properties for sale in Lisbon coast, Portugal

If you’re looking for the perfect opportunity to close a deal before the end of 2020, 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 350 sq.m. T5 apartment for sale, with a river view for €840,000.

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.

You can find 181 sq.m. T4 flat for sale in Alto da Barra, Oeiras, for €590,000. The previous price was €610,000.

As of 2021, property owners who decide to place their properties on the rental market in Oeiras will benefit from a 20% discount on the Municipal Property Tax (IMI) – unlike Lisbon, which recently announced the end of this tax benefit.

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.

It is possible to find a 259 sq.m. T2 pool flat for sale in Cascais center for €1,190,000. The previous price was € 1,290,000 (8% drop).

Enlist the help of a professional

Be well organized in your Lisbon property for sale investment.

Understanding the difference between a buyer’s agent vs. 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 have found your Lisbon property for sale, seek help from a specialized property investment firm such as Goldcrest. As an independent local’s 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  on your side. Be assured 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

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.

 

Frequently asked questions about Lisbon property for sale

Why buy property for sale in Lisbon Portugal?

Property for sale in Lisbon prices, considering the numbers from the last decade, are stable or ascending. There is continuous growth in public and private investment in the city due to its economic potential.

What area has the best property for sale in Lisbon city Portugal?

One of the best areas to find property for sale in Lisbon is in Parque das Nações, where urban expansion projects from renowned architects, such as Renzo Piano, are under development. Another good area to find the best property for sale in Lisbon is the central business area of Avenidas Novas.

What areas have the best properties for sale on the Lisbon coast?

Linha de Cascais has the best properties for sale on the Lisbon coast.

How to purchase property in Lisbon?

To guarantee the best return on investment and an efficient acquisition process, we suggest that you be accompanied by an expert in the market.The value of a professional buyer’s agent at your side makes all the difference, whether it’s to help you find the best deals in Lisbon property for sale, to access industry contacts as a local or to close deals without fear.

Should I invest in property for sale in Lisbon old town?

Yes, always. The investment made in renovations, especially in properties for sale, is always minimal compared to the guaranteed returns that these projects normally have. Lisbon’s old town is a historic area that will never lose its flair.

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