Updated: September 19, 2023
MarvilaPreviously 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 MarvilaWhile 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 MarvilaMarvila 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
- Portuguese residency and citizenship
Things to consider when buying a house in Marvila, LisbonReal 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.
The areaA 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.
Property checkMake 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 MarvilaTo 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.