Discover the most valued areas of Lisbon
Parque das Nações is the most expensive area of Lisbon to live in
While living in Lisbon is exponentially cheaper than in other European capitals, there are areas where the cost of housing/per sq.m is higher. A study of real estate Cushman & Wakefield analyzed the residential market of Lisbon. According to this report, the Parque das Nações is the most expensive place to reside in the Portuguese capital, and the average cost per square meter in this area is 3625 euros.
The second area which has the highest prices in the housing encompasses the neighborhoods of Lapa, Estrela and Santos , with the price per square meter of around 3562 euros. However, as well as Baixa-Chiado, the area Estrela, Lapa and Santos are less populated areas, mostly with couples and singles living here.
The highest concentration of people in Lisbon (27.5%), which also corresponds to larger families and younger population, are registered in Benfica, Campolide, Telheiras and Lumiar. And in such areas as: Belem Alcântara, Avenidas Novas and traditional neighborhoods like Alfama, Sé Castelo or Graça reside aging population of the capital.
Residents with more substantial incomes are concentrated on the New Avenues (including São Sebastião da Pedreira, Campo Grande and Alvalade), as well as Lapa, Estrela and Benfica neighborhoods, Campolide and Telheiras. The lower earnings correspond, as a rule, to the suburban area and some traditional neighborhoods.
The Baixa-Chiado area is registered as one, with the highest unemployment rate of 11%. On the other hand, the lowest unemployment rate is the neighborhoods: Alto da Pina, Beato, Marvila and Olivais, which is below 4%.
Construction works give signs of recovery in Portugal
In Portugal 4.2 thousand buildings were licensed in the second quarter of 2016, corresponding to 12% more than in the same period of the last year, and 2,500 buildings were completed, which corresponds to 10.7% less than in the same period 2015 . The construction industry, which was one of the most affected by the financial crisis that struck the country, shows signs of recovery.
More than 50% of homes in Lisbon are sold in less than six months
About 55% of housing on offer in the Metropolitan Area of Lisbon took on average less than six months to get sold, according to data from the Confidential Property, which relate to transactions that occurred between the second quarter of 2015 and the first quarter of year 2016.
WHAT CUSTOMERS OF LUXURY PROPERTIES IN PORTUGAL LOOK FOR?
The main luxury home buyers in Portugal are foreigners seeking housing in major tourist destinations in the country, such as Lisbon, Madeira and Algarve and, more recently, on the Alentejo coast. In this context several factors are considered, which include the low property prices, the mild Portuguese climate and landscape diversity.
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