Property investment in Portugal has risen by a little over 60% over the past five years. Despite the recent growth in the Portuguese real estate market, property prices in Lisbon are still lower than in other capitals in Western Europe.
Over the past five years, for Lisbon and Porto real estate, average residential (asking) prices increased by 49% and 83%, respectively. In the ever-popular Algarve, house prices also saw a heady rise of 50%. Financial experts have forecast that the market will continue increasing steadily in the years to come, after the slight faltering due to the COVID-19 pandemic.
In Lisbon, investors can expect to pay at least €250,000 for a two-bedroom apartment, more if located in one of the more expensive areas of the city. According to the Deloitte Property Index (2021), in 2020, the average price for real estate transactions in the capital was €4,486/m², far cheaper than cities like Paris and Tel Aviv, which stand respectively at 12,917€/m² and 15,000€/m².
Real estate investors in Portugal are also looking to the city of Porto to diversify investments. The northern Portuguese city has enjoyed a tourism boom in recent years and is less expensive than Lisbon, with investments in up-and-coming areas costing as little as €1,000/m². Real estate transactions in Porto stood at 2,367/m² in 2020, according to the Deloitte Property Index (2021).
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