Lisbon
Restored flats in 19th and early 20th century buildings, and a small number of new developments near the river.
Places
Príncipe Real, Estrela, Lapa, Campo de Ourique, Alcântara
Prices
€7,000 to €12,000 per m² for restored flats
Distance
20 minutes to the airport
The houses you’ll find
Most of what we sell in Lisbon is in buildings from 1880 to 1940: high ceilings, pine floors, tall windows and, often, no lift. A full restoration of a building like this usually means a new roof, reinforced floors and a lift, which is why restored flats with a lift sell for 20 to 30% more than unrestored ones on the same street.
New developments are mostly in Alcântara, Marvila and along the river. They have parking and better energy ratings, but smaller rooms.
What to check before you buy
The whole building
Ask for the minutes of the last two condominium meetings. They show planned works and who pays for them.
Lifts and stairs
Many buildings from before 1940 have no lift. A fourth-floor walk-up costs less now and narrows the list of people who will buy it from you later.
Short-term letting
New holiday-let licences are restricted in most central parishes. Don’t buy a flat counting on one unless it already has it.
Living there
Príncipe Real and Estrela are residential, with gardens, cafés and schools within walking distance. Campo de Ourique is flatter and has its own market. Alcântara is closer to the river and still changing.
Most of our Lisbon buyers don’t own a car. The metro, trams and taxis cover the centre, and the airport is 20 minutes away.
Questions buyers ask
Can I buy a flat in Lisbon to rent out to tourists?
Only if it already holds an Alojamento Local licence that can transfer, and the parish allows it. In much of the centre, new licences are not being issued. We list the licence status on every flat.
How much is the annual property tax?
In Lisbon, IMI is 0.3% of the tax value (VPT), which is usually well below the price. For a €1.45M flat it is typically €1,500 to €2,500 a year.
Which areas are good for families?
Campo de Ourique, Estrela and Lapa. They are close to the international schools in the centre and have parks and flat streets.
Looking in this region?
Book a 30-minute call with the agent who covers it. We’ll tell you what’s for sale now, what’s coming up and what your budget buys.
