Updated: September 25, 2024
Lisbon is a dream for lifestyle buyers and eagle-eyed investors looking to secure a stunning luxury property in Portugal’s gorgeous capital. From modern apartments with sweeping views of the famous River Tagus to spacious villas where you can enjoy a whole host of home comforts, the City of Seven Hills can certainly step up to the mark and deliver.
In this article, An Overview of the Best Luxury Apartments Lisbon Has to Offer, we’ll provide you with an introduction to luxury property market in Portugal’s captivating capital, outline key locations to find the very best luxury apartments in Lisbon for sale, and then arm you with key insights into the buying process.
An Introduction to Lisbon Luxury Real Estate
The luxury real estate market in Lisbon is a hot topic right now, making 2024 an ideal time to invest in property here. The Portuguese real estate market is dynamic, with real estate prices having been rising rapidly in the past few years and with demand outpacing supply. The Portuguese government has been attempting to rectify this, putting in place a plan to boost the supply of housing in Portugal’s highly sought-after capital.
A recent study in Frank Knight’s Wealth Report highlighted that international investors were 3.8 percent more likely to buy luxury homes in Portugal compared with the previous year. And, with Lisbon being the glimmering centerpiece of the country, there is arguably no better place to put your money. Do remember, however, that Portugal luxury properties can be found in stunning locations across the country, from the popular Algarve region to the historic charm of Porto.
One of the key strengths to investing in the property market in the Portuguese capital is the sheer diversity of Lisbon luxury real estate, from lavishly decorated modern apartments in the center of the city to large houses on the outskirts perfect for families. Retirees will also find beautiful apartments lining the coast on the Portuguese Riviera, between the bright lights of Lisbon and the charming seaside town of Cascais. Cascais itself could also be an incredible option, with several apartments here coming with beautiful ocean views. For proximity to the Portuguese coast, Cascais real estate should certainly be on your radar.
Why choose Lisbon for luxury apartments?
Lisbon manages to strike the perfect balance between tradition and innovation. The city’s historical and cultural significance is combined with the modern amenities and excellent infrastructure that have attracted expats from across the world. From families looking for a better quality of life to retirees looking for a vibrant city to enjoy their retirement to the maximum and investors seeking lucrative property investment opportunities, Lisbon holds all the cards.
Rental yields in the Lisbon Metropolitan Area stand at 6.7 percent, and with demand continuing to outpace supply, there is strong potential for capital appreciation. Should you invest in a luxury apartment in Lisbon, its value is highly likely to increase in the coming years.
Types of Luxury Apartments in Lisbon
As we’ve touched upon, one of the best things about Lisbon is the wide range of property types you’ll find in the city, from modern apartments in the city center to spacious mansions in quieter neighborhoods. You’ll be able to choose from old apartments that have intricate, historic architecture with contemporary interior designs alongside modern apartments, such as those you’ll find in Parque das Naçōes, which is unlike any other part of the city.
You will also come across luxury penthouse apartments which will come with outrageous views of the Tagus River or the city skyline, ground floor apartments, and fancy apartments that are fully equipped with everything that you could possibly need.
Plus, should you be seeking out an unfurnished apartment you will also have options, where you’ll be able to design the interior yourself, completely following your own creativity and preferences.
What are the best areas to find a luxury apartment in Lisbon?
The best place to find the luxury apartment of your dreams in Portugal’s vibrant city will depend largely on your preferences. Whether you are looking for a modern design flat with sparkling river views, a more homely traditional apartment, or an all-out penthouse to live the ultimate life of luxury, you will find plenty of options.
Below, we share some of the neighborhoods that should be on your radar.
Avenida da Liberdade
Portuga’s most famous boulevard is lined with designer stores and luxury hotels. This is the ideal spot in Lisbon for those looking to be centrally placed and within walking distance of all the best parts of the city.
With stylish surroundings, beautiful parks – such as Gulbenkien and Parque Eduardo VII – and top shopping options, this location is perhaps the ultimate place to snap up an apartment in the city.
You will also find an array of hidden cocktail bars, trendy restaurants, and rooftops where you’ll be able to enjoy outrageous views of the city and the River Tagus in style.
Chiado
Chiado effortlessly blends classical and modern architecture, with this neighborhood being a prime location should you want to be right in the thick of the action, in the center of the city. Here, you’ll be able to enjoy sublime sunsets over the River Tagus. With easy access to theaters, museums, and fine dining, this is one of the finest locales in the city.
Bear in mind, however, that you should be careful where you buy, as Chiado can get busy with tourists, particularly in the summer months. Plus, you are close to Bairro Alto, the nightlife spot of the city, so bear this in mind when considering buying here.
Príncipe Real
With stunning mansions, charming parks, and welcoming cafés, you’ll find Príncipe Real to be a sophisticated, family-friendly neighborhood.
Príncipe Real is known for its intricate architecture, and if you are a keen shopper, you’ll find many boutique stores here, in addition to some of the very best restaurants in the city.
You are also very well placed to get quickly to the city center and the river.
Belém
Just a short ride from the city center on one of Lisbon’s iconic yellow trams, you’ll find Belém, famous for being the home of the very best pastel de nata, green parks, and stunning views of the River Tagus. It’s also worth visiting the Jerónimos Monastery and the MAAT art gallery, which is close by. Many properties here also come with private gardens, when you move further away from the river.
For those looking to live close to a thriving capital but are also looking for more space, then Belém could be the perfect place. You’ll find several modern apartments here. The cherry on top is that you have easy access to stunning beaches, such as Carcavelos and the charming beaches in Cascais.
Estrela
Well known for the impressive Estrela Basilica and large gardens, Estrela is a lovely neighborhood that offers a mix of traditional homes and modern apartments. It boasts a strong sense of community and plenty of green spaces. You will also come across the food market, Mercado de Campo de Ourique nearby, home to delicious food, from oysters to gourmet burgers, while, even in winter, you can enjoy a nice picnic in the Jardim da Estrela (Estrela Garden).
If you’re looking to retire or move to Lisbon with your family, Estrela could be a very good option to consider as you’re perfectly located close to the center but will be able to enjoy some peace and quiet.
Parque das Nações
Unlike any other area in Lisbon, Parque das Nações is often compared to Canary Wharf in London. With its futuristic buildings, modern apartments, and some of the best restaurants in the city, this neighborhood is definitely worth considering for its high potential for capital appreciation in the years to come.
Again, this could be a top location for families, with the cable car offering sublime views and the Lisbon Aquarium being located here. The United Lisbon International School is also nearby in Marvila. For keen travelers, the close proximity to the Humberto Delgado Airport (Lisbon Airport) could be a further advantage of snapping up property in Parque das Nações.
A Step-by-Step to Buying Luxury Apartments in Lisbon
There are no restrictions on foreign nationals buying property in Portugal and you’ll find the process to be quite straightforward. To make things as easy as possible for you, we’ve broken the steps to buying property in Portugal into the following steps:
- Decide if you require a mortgage to fund the purchase and, if so, determine which option is best suited to your specific situation.
- Find your ideal property in Portugal, which is made much easier by working with real estate professionals who will have access to properties not listed elsewhere on the market.
- Engage in negotiations with the seller. Again, this will be easier should you work with a real estate professional who will understand the market and will be able to negotiate on your behalf.
- Sign a Reservation Agreement to show your interest and take the property off-market. You will be required to pay a reservation fee at this stage.
- Sign a Promissory Contract (CPCV), which is essentially your promise to purchase the property. We recommend that the CPCP be signed in front of a Notary.
- Complete the purchase by signing the Escritura (Final Deed), the final step that formally transfers property ownership over to you, and where you will need to pay the remaining balance of the property price and other outstanding costs.
For more detailed information on each step, feel free to check out our comprehensive guide on buying property in Portugal.
Working with a real estate agent
If you are considering investing in luxury apartments in Portugal, you’ll want to have an expert in the field to help you with the purchase. From identifying prospective neighborhoods that fit your requirements and having access to properties that you will not find elsewhere to guiding you through the intricacies of the property purchase, having a real estate professional by your side is your ticket to a successful and stress-free property-buying process.
It’s important to note that real estate agents in Portugal who work on behalf of the seller will receive a higher commission for a higher sale. On the other hand, a buyer’s agent, like Goldcrest, works solely for the buyer, focusing on meeting their specific needs and safeguarding their interests.
Seek legal guidance
Alongside working with a buyer’s agent or real estate team, we highly recommend enlisting the assistance of a real estate lawyer to ensure you adhere to all the legal requirements. From making sure that the seller has the right to sell to outlining potential issues with the property, having a lawyer by your side could be instrumental in saving you money in the long run.
Financing your new apartment
With more than 15 banks offering mortgages in Portugal, make sure you find the best deal for your situation. You can find out more in our article on getting a mortgage in Portugal for more information.
Luxury Apartments Lisbon: Features and Amenities
Luxury apartments are the crème de la crème of properties in Portugal. The interiors of numerous luxury apartments in Lisbon feature modern finishes, whether it is for a spacious kitchen or an ensuite private bathroom. Many properties also have large windows to make the most of the city’s natural light. If you’ve visited Lisbon before, you may be aware that the city is largely built with light colors, which reflect and scatter the light, creating beautiful cityscapes.
You will find luxury apartments that come with private balconies or rooftop terraces, often offering breathtaking river views if you’re near the coast, alongside those that come with a swimming pool, private gym, or private security. Keep in mind that, as we’ve mentioned, while you can find fully finished luxury apartments in Portugal, there are also options where you can customize the interior to suit your tastes.
Lifestyle in Lisbon
Lisbon is unlike anywhere else in Portugal. You’ll find a thriving expat community, a relaxed pace of life, and an array of activities to get involved in. Whether you are a keen golf player, a water sports fanatic, or are looking to spend some quality time on golden sandy beaches, Lisbon can certainly deliver.
From its excellent gastronomy, art galleries and museums galore, and an array of festivals throughout the year, you’ll get to the heart and soul of what Portuguese life is about.
There are 8 schools in Lisbon City, with a further 20 in the surrounding area, offering children a wide range of curricula, facilities and teaching methods. Should you be considering moving to Lisbon with family, you’ll find an array of options.
Goldcrest: How We Can Help You
Goldcrest is a buyer’s agent that is based in Lisbon. 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.
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. As an impartial advisor on the market, we work solely on behalf of our client and provide a service tailored to your needs and requirements.
- 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.
- 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.
Frequently Asked Questions about Luxury Apartments in Lisbon
What are the best neighborhoods for luxury apartments in Lisbon?
The best neighborhoods for luxury apartments in Lisbon include Chiado, Avenida da Liberdade, and Principe Real. These areas offer a blend of historic charm, modern amenities, and proximity to top restaurants, shops, and cultural landmarks, making them highly desirable for luxury living.
Remember that it is a good idea to visit Lisbon to scout out which neighborhood could be best suited to you. A good location for one person may not be the best spot for another. It can even be a good idea to rent first before buying so you can determine the best part of the city for you.
What amenities should I expect in a luxury apartment in Lisbon?
Lisbon luxury apartments are fabulous, with many offering high-end finishes, private security, private parking, and gym facilities. Many will have huge windows to maximize the city’s natural light, while others may have a swimming pool, spa facilities, and smart home technology for added convenience and comfort. And, for those on the hunt for spectacular views, many will also come with beautiful views of the Tagus River or sweeping city skyline vistas.
What is the process for buying a luxury apartment in Lisbon?
The process of purchasing a luxury property in Lisbon can be split into six steps.
- Determine your financing needs: Assess whether you require a mortgage to complete your purchase and if so, which option is best suited to your specific situation.
- Find your ideal property: Work with real estate professionals to locate your ideal luxury property.
- Negotiating terms with the seller: Enter into negotiations to agree on the price and conditions.
- Sign a Reservation Agreement: Secure your chosen property by signing a Reservation Agreement.
- Complete the Promissory Contract (CPCV): Finalize the terms through the Promissory Contract.
- Finalize the purchase: Complete the transaction with the Escritura, the Final Deed.
Are there new developments for luxury apartments in Lisbon Portugal?
Yes, Lisbon has several new luxury apartment developments, especially in neigborhoods such as Parque das Nações and Estrela. A new building can be a better option than buying an old property, as you will have modern interiors and insulation that may be lacking in some of the older properties.
What should I look for when investing in a luxury apartment in Lisbon?
When investing in a luxury apartment in Lisbon, consider the location and how easy it is to get around, the potential for property value appreciation, rental yield potential, and nearby services and amenities. Also, evaluate the neighborhood’s development plans – is your area going to undergo any noisy construction plans in the near future? This is a very important question to ask.
What are the benefits of living in a luxury apartment in Lisbon?
Living in a luxury apartment in Lisbon offers benefits like premium amenities and a high standard of living. For many, life in the Portuguese capital is the ultimate dream. Residents enjoy breathtaking city or river views and discover the vibrant cultural and culinary scene that Lisbon is famous for.