Portugal's Expresso Newspaper published an article entitled, "Lisbon Luxury Home Prices Rose 23% in Two Years," in its Economy section, which is very good news for real estate investors in Portugal. It means there is no better time to invest in Lisbon's luxury property market.
"The average selling price of high-end housing exceeded 4,000 euros per square metre, in Santo Antonio, and fluctuated between 3750 and 3950 euros/m2 in the Parque das Nações, Misericórdia and Avenidas Novas areas.
Luxury homes are those that are valued most in Lisbon property market. According to recent data released by the Confidential Property database, the price of houses in the highest segment increased by 23% between 2013 and 2015. Between 2010 and 2013 the variation was already positive, with an increase of 14%.
Although the largest increases are in the most expensive price bracket, the mid-range real estate market is also recovering, albeit at a more moderate pace, having appreciated 9.5% in the last two years (2014 and 2015), after a cumulative decline, also of 14%, between 2010 and 2013.
"45% of total housing sales in the upper range of the market are concentrated in the areas of the Parque das Nações and Baixa (covering the parishes of Santo Antonio, Misericórdia and Santa Maria Maior)," according to the Confidential Property in its SIR database (System of Residential Information).
Read the full article in Portuguese here.