Lisbon Real Estate Prices: A Deep Dive into Europe’s Expensive Market
Lisbon, the vibrant capital of Portugal, has always been a magnet for tourists, expats, and investors alike. But in recent years, the city’s real estate market has seen a significant surge in prices, especially in certain parishes. One such parish, Santo António, stands out as one of the most expensive in Europe. Let’s delve deeper into what makes this area so sought after and how it compares to other prime European locations.
Key Takeaways:
- Santo António Parish in Lisbon ranks among the top ten areas with the most expensive houses in Europe.
- The average price per square meter in Santo António is €5,826.
- This parish is comparable to prime areas like Kensington and Chelsea in London and the first district of Vienna.
- Rehabilitation of old residential buildings has attracted a significant number of investors to Santo António.
The Allure of Santo António
The Heart of Lisbon’s Luxury
Located in the heart of Lisbon, Santo António covers areas like Príncipe Real, Rato, and the streets near Avenida da Liberdade. According to a report by the Spanish newspaper Expansión, which cites a study by the American agency Evernest, the average price per square meter in this parish is a whopping €5,826.
This price point places Santo António in the same league as some of Europe’s most luxurious neighborhoods. For instance, in London’s Kensington and Chelsea, the value per square meter reaches an average of 22,000 euros.
A Hub for Investors
What makes Santo António so attractive to investors? One significant factor is the presence of several old residential buildings. These structures, rich in history and architectural beauty, are now undergoing rehabilitation. The blend of old-world charm with modern amenities makes this parish a hot spot for real estate investments.
Real Estate Rents and Sale Prices in Lisbon Portugal
How Santo António Compares to Other European Hotspots
When we look at real estate prices across Europe, several areas stand out for their exorbitant rates:
| City/Area | Average Price per Square Meter |
|---|---|
| Kensington and Chelsea, London | 22,000 euros |
| First District, Vienna | 19,826 euros |
| VIII District, Paris | 19,425 euros |
| Brera, Milan | 11,206 euros |
| Pijp, Amsterdam | 8,691 euros |
| Mitte, Berlin | 8,360 euros |
For a more detailed breakdown of housing prices in Portugal, check out this insightful article from Casavizer.
Spain and Greece: Other Noteworthy Entrants
Spain also has its entrants in the list of Europe’s most expensive neighborhoods:
| City/Area | Average Price per Square Meter |
|---|---|
| Salamanca, Madrid | 7,488 euros |
| Sarrià – Sant Gervasi, Barcelona | 6,054 euros |
| Kolonaki, Athens | 6,500 euros |
Before Santo António in Lisbon, there’s the Kolonaki neighborhood in Athens. Known for its five-star hotels, galleries, and renowned restaurants, the value of houses here reaches 6,500 euros per square meter.
FAQ
How much does property cost in Santo António, Lisbon?
The average price per square meter in Santo António is €5,826.
How does Santo António compare to London’s Kensington and Chelsea?
While Santo António is one of the most expensive areas in Lisbon, it’s still cheaper than Kensington and Chelsea in London, where the average price per square meter is 22,000 euros.
Why is Santo António attracting so many investors?
The rehabilitation of old residential buildings in Santo António has made it a prime location for investors looking for properties that blend historical charm with modern amenities.
Which European city has the most expensive real estate?
London’s Kensington and Chelsea area holds the title for the most expensive real estate, with an average price of 22,000 euros per square meter.
Are there other expensive neighborhoods in Lisbon?
While Santo António stands out for its high prices, other areas in Lisbon, like Baixa and Chiado, are also known for their luxury real estate.