New Lisbon Airport: Status Update and Property Market Impact

The Portuguese government is pushing the New Lisbon Airport at Alcochete to open by 2034, with total costs of up to €8.9 billion, and a final Environmental Impact Study already submitted.

For investors, the new airport is not just a transportation project – it is an early sign that the Lisbon property market is preparing for long-term growth.

When the development is complete, it will replace Lisbon’s Humberto Delgado airport, while in the meantime, the current airport is developed. But is this new opening schedule feasible, and which areas will benefit the most? Here’s all you need to know.

New Lisbon Airport: Latest Updates

Portugal’s New Lisbon Airport might have its first flight in 2034 if the Government manages to cut off the construction timelines.

During the VIII Portuguese Tourism Summit, Miguel Pinto Luz Infrastructure and Housing Minister, stated that the Government formally asked ANA Aeroportos to open the Luís de Camões Airport in 2034. The event took place on 28 September 2026.

According to Pinto Luz, it would be a collective effort for everyone involved to find a way to shorten the construction process and boost capacity. The initial goal was 2035.

However, José Luís Arnaut the chairman at ANA, stated that although the company is equally invested in opening the airport sooner, the detailed technical work would take more time. Construction can begin around 2030 and potentially open in 2037.

That means, the new target is more of an ambition rather than an official opening date.

What’s next?

The Luis de Camões Airport at Alcochete is still in its approval and planning phases.

ANA has a financial report due for January 2027, which is the last of the four interim reports of the preparation process.

The Portuguese government expects a full application for the new airport in January 2028. They would then use it to decide whether ANA would be part of the development moving forward.

The next step is to demilitarize the Alcochete Firing Range, where the airport would be built, and then finish the rails and roads that would serve it.

Where Is the New Lisbon Airport: Alcochete Confirmed

The location for the new Lisbon Airport is on the eastern side of Campo de Tiro de Alcochete. It will be built on a military firing range around 40 km (25 mi) east of Lisbon on the south bank of the Tagus River.

From the view of property buyers and long-term residents:

• If you are living in Cascais, Portugal, and the western suburbs, you can travel to Alcochete by crossing Lisbon and heading east.
• If you are living on the southern bank (Setúbal, Montijo, Seixal, Barreiro, or Almada), there are new roads and links for public transportation that may be more direct, which are yet to be defined.

New Lisbon Airport: Costs, Rail Plans, and Passenger Capacity

The cost of the new Lisbon Airport is about €7.9 billion to €8.9 billion, at 2024 prices, according to a technical report published in July 2026.

Portugal’s Government explained that the expenses are covered with EU funds, airport tariffs, and public private partnerships. They don’t go through the State Budget.

When it does open, the new airport would have a capacity of about 55 million passengers annually, which could be expanded to about 85 million passengers per year. To put it into perspective, the Humberto Delgado Airport can handle 36 million passengers for now.

On another note, construction of Portugal’s high-speed rail line, connecting Lisbon and Porto began on 12 October 2026. The airport’s rail is planned to link with the high-speed line through the upcoming Third Tagus Crossing.

How the New Airport Can Affect Lisbon Property

The new airport can change the long-term outlook of Lisbon’s real estate market. Over time, we expect stronger demand for property, business investment, economic growth, and rising populations in towns closest to the airport.

Airlines will keep using Humberto Delgado Airport for the next several years. When the airport is finally complete, they will transfer their flights gradually, which will not affect residents and property buyers overnight.

While most investors are focused on Lisbon itself, smaller towns and areas near the Tagus River can also benefit from new transport networks, international investment, and housing options.

Which Areas Could Benefit

Alcochete

As a host town, Alcochete may have the biggest advantage. We expect higher demand for residential properties, vacation rentals, and commercial real estate. Once the airport opens, more job openings will follow.

Montijo

Located right across the river from the Portuguese capital, Montijo already has roads linking to both Alcochete and Lisbon. We believe it can attract buyers who want more services closer to the airport site.

Barreiro

Situated on the Setúbal Peninsula, Barreiro lies on the Tagus River boldly facing the capital. Its fast ferry to Lisbon and post-industrial culture can make it appealing for property buyers.

Seixal

As a small riverside town, Seixal pulls buyers with its peaceful atmosphere, black sand beach, and crystal-clear waters. It also has a ferry and roads connecting it directly to the capital city.

Goldcrest: How We Can Help You 

Goldcrest is the first buyer’s agent in Portugal. 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. 

Unlike traditional real estate agents in Portugal who represent the seller, we are dedicated exclusively to protecting the buyer’s interests. 

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.
• 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. We can also help you buy property remotely.
• 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.