Luxury homes are less expensive in Lisbon
The gap between the luxury and the mid-range markets in the capital has reversed
The price of luxury homes in Lisbon rose 11% in the last 12 months (between the beginning of the third quarter of 2015 and the end of the second quarter of 2016), a substantially lower value in the same segment in the period accumulated between 2014 and mid 2015 - when the prices increased by 46%. The places that attract more buyers in Portugal are: Lisbon, Cascais, Estoril, Sintra and Algarve.
According to the data from the SIR - Residential Information System for the municipality of Lisbon, the gap between the luxury and the mid-market in the capital has been reversed, with the latter accelerating the pace of recovery in the last year, presenting a rising prices of around 23%. Between 2013 and 2015, the appreciation in this segment had been 10%.
Last year, most of the luxury real estate sales in Lisbon took place at the Parque das Nações and Baixa, that together added a share of 51% of total reported by companies joining the SIR. Regarding the price per m2, the sale price exceeded 7,000 euros in Santo António area. In the Parque das Nações, in Santa Maria Maior and in Misericordia, the price was between 5,200 and 6,600 euros.
Which factors are influencing property prices?
The location, neighborhood, seniority, property age, floor plans, finishings - are among the factors, that heavily influence prices of the properties Assessment of a property is always subjective, however there are some key factors that are transversal to any property, regardless of the segment in which it occurs.
PROPERTY PRICE EVALUATION IN EURO ZONE
The first quarter 2016 recorded the largest growth in house prices in Portugal since the second quarter of 2008. This corresponds to 6.9 percentage points, according to Eurostat data.
- Popular Recent