Why Lisbon is one of the best places in Europe to buy real estate?

According to DRP Advisers, Lisbon is one of the best places to buy real estate in Europe based on findings from studies that have evaluated it in terms of cost of investment, culture, lifestyle, hospitality, health care, education, cost of living, and several other factors which have made it the destination of choice for both investors as well as tourists.

As published by the National Institute of Statistics, INE, in 2022, the house price index rose by 12.9% for another year running. Prices in secondary real estate markets in comparison to new buildings were noted by researchers to be growing faster with the number of properties purchased by foreign investors doubling.

Approximately 2,500 properties worth over 800m euros were purchased in Portugal in the first quarter of 2022 with approximately a quarter of the properties purchased in Lisbon.

The price increase of houses in Lisbon was noted to be higher than in London and most other European cities. Considered the second cheapest capital city in Europe to buy a house, the chances of one making a substantial return on investment upon buying a property are considered much higher in Lisbon than in other European cities.

With one able to buy a property from as low as 250,000 euros, there was a 70% increase in purchases by foreign investors by the end of 2022. According to the Association of Real Estate Mediators, the justification for the increasing prices was the insufficient supply to cater to the high and constantly growing demand.

According to a report by pwc.com on Emerging Trends in European real estate, Lisbon was considered an expanding real estate market with a rate bigger than the rest of Europe. The study predicted consistent growth in 2023 as well despite the looming threat of a possible economic slump.

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DRP Advisers is Portugal’s leading real estate consultancy with an extensive portfolio of properties. With a team of highly skilled advisers, connections, and a deep understanding of immigration, DRP is set to help investors start their investment journey in Portugal and eventually get EU citizenship by way of the Portugal Golden Visa.

‍Invest in Lisbon, one of the best places to buy real estate in Europe, and accrue the vast benefits.