Previously an industrial area of Lisbon, Marvila is currently one of the up-and-coming neighborhoods to live and invest in. It is located on the east side of the city with spectacular views over the Tagus River. Comprised of warehouses and industrial buildings, Marvila is undergoing a complete transformation that has seen these abandoned spaces morph into creative and innovative spaces.
Hailed as Lisbon’s version of London’s Shoreditch or New York’s Meatpacking District, Marvila is dominated by entrepreneurial businesses, including creative space Hub Creative Beato, art gallery Filomena Soares Gallery, and craft breweries Fábrica Musa and Dois Corvos.
Why Marvila real estate?
Marvila real estate is conveniently located in the middle of many attractions in Lisbon while maintaining enough distance to make it a quiet neighborhood. It is the perfect place for young couples and entrepreneurs who can take advantage of its creative and intellectual vibes. As the area is undergoing intense transformations, it has plenty of potential to become not only a commercial area but also a fantastic residential neighborhood.
The real estate market in Marvila
While pricey, Marvila offers plenty of loft-style and modern apartments for short or long-term rental. As an evolving entrepreneurial hub, there are also plenty of larger, commercial properties for long-term investors. The community in Marvila is made up of mostly young couples and individuals drawn to the artistic and innovative aspects of the area.
Buying a house in Marvila
Marvila real estate is rapidly evolving, and the constant influx of new businesses is improving this formerly overlooked area. Marvila has developed into a magnet for creatives with restaurants, co-working spaces in former warehouses, and art galleries. The area has experienced a remarkable shift in recent years as it has embraced tourism and innovation. Today, you may find restaurants providing authentic cuisine prepared with local products or a new brewery serving excellent craft beers.
Given its rising market worth, the following are some grounds for why you should start thinking about investing in real estate in Marvila, Lisbon.
- High returns
Marvila is being transformed by significant public and private investments, and it is expected to become one of Lisbon’s most popular attractions. It’s a haven for digital entrepreneurs and apartment residents who can take advantage of having everything close at hand.
A once-industrial area has been turned into an avant-garde district with trendy lofts. There are luxurious apartments with breathtaking views available at various price points for the next generation of creatives looking to build a name for themselves in the world, ranging from studios to five-bedroom homes with balconies or private gardens.
- Portuguese residency and citizenship
Individuals can acquire eligible homes and seek residency in Portugal under the Golden Visa scheme. The Portugal Golden Visa program makes it simpler for investors to live there. Keep in mind that the Portugal Golden Visa only applies to commercial property in Lisbon. Qualifying residential properties need to be located in designated interior areas.
Things to consider when buying a house in Marvila, Lisbon
Real estate purchases often seem difficult. But it’s worth it, when you open the door to your new perfect property which provides you with everything you’ve been after. Before making a decision, consider the following points.
A new home purchase involves more than just the house itself. Spend some time getting to know the area where the property is located before making a decision: Look for bars and cafés, schools nearby, and everything else you will need.
Make sure to thoroughly check the property before buying it, whether it is for personal use or investment. Visit and assess whether the equipment, such as electrical and heating systems, and water connectors, require repairs. This will assist you in determining the purchase’s net cost and whether the property is worth buying.
The price of real estate in Marvila
To unify the entire coastal area of the city, Marvila is becoming more and more modern as it gets ready to welcome more visitors to the eastern part of Lisbon.
In 2020, Marvila’s residential property was listed for an average asking price of €4,225 per square meter. Keep in mind that this is only the asking price and that the final sale price may be higher or lower.
Below is the list of examples of private properties and their prices you can buy in Marvila, Lisbon, to give you an indication of property prices in Marvila:
- 3 bedroom apartment in Marvila with 73 m2 – €160,000;
- 4 bedroom apartment with 202 m2 (restoration needed) – €270,000;
- Refurbished 1-bedroom apartment with 65 m2 – €260,000;
- 1 bedroom apartment with 70 m2, an outdoor area of 32 m2, 1 parking space, and storage room – €330,000;
- 3 bedroom apartment with 132 m2, an outdoor area of 57 m2, 1 parking space, and storage room – €680,000.
In case you’re in search of urban land composed of 9 warehouses with a constructive capacity of 12,767.00 m2, it would cost you the whole €16,000,000.
If you prefer neighboring districts, there is Alvalade – another marvelous district. Prices for real estate Alvalade, Lisbon, start from €380,000, with the average asking price of €5,154 per square meter in 2020. For those who do not want to live in the center of the city, there is another district to consider, in the western part of the city, outside the center – Belém. Portugal’s real estate market has a lot to offer here too, with prices starting from €200,000. If you look at Lisbon city, the price in 2020 was €5,139 per m2 , while in the municipality of Lisbon, the price was €3,225 per m2. This shows the substantial difference between purchasing in the city center or the surrounding area.
The price for a store that is inserted in commercial space in the revitalization phase in Marvila would cost you €27,000. If you are looking for something bigger, like an office for a large company, you would find a spectacular 620 m2 office building, or former warehouse, at a cost of around €1,700,000.
Living in Marvila property
Conveniently served by bus, Marvila is well-connected to other areas of the city, including Lisbon airport and the contemporary, redeveloped district of Parque das Nações. While not served by train or metro, it is always possible to catch a bus to areas in which these modes of transportation exist, including downtown Lisbon, which can be reached in 20 minutes.
Marvila does not have many green spaces, which is why plans are currently in motion to revitalize the waterfront area and turn it into a massive park. However, there are plenty of cultural centers, cozy restaurants, Art Deco architecture, and art spaces to keep residents occupied. Also popular with sport enthusiasts is the convenient location of the expansive river waterfront, perfect for jogging and biking, and the presence of a rock climbing gym.
International interest in Marvila has grown significantly in recent years, making it a popular area to invest in. It is relatively close to the lively bustle of downtown Lisbon while also providing access to the trendy district of Parque das Nações, noted for its green spaces and shopping options.
Take a look at our guide to buying real estate in Lisbon for more information about the market.