Unlike Barcelona or perhaps Paris, Lisbon doesn’t have a reputation as a stunningly vibrant European city of history, culture, fine cuisine and…expensive property prices.
And yet, whilst Lisbon is indeed highly-expensive-property-price free, it has history, culture, fine cuisine and so much more in bucket loads so that anyone seeking charming property in Portugal should really give Lisbon a look.
Because Portugal is not famed for its glitziness and sophistication, Lisbon is often overlooked. It has been overlooked by cheap flight operators, jet to let property investors and even tourists in great numbers – but we think all that should change – because Lisbon is achingly beautiful and offers up a fabulous quality of life…
Restricted by an outdated and cramped airport and a lack of cheap flight operators from the UK, Lisbon’s charms have been missed. But all that is slowly going to change now that the go ahead has been given for a brand new international airport, to which it is expected all the major airlines will want to fly. When the new airport is completed in 2018, it is expected that this will have a sustainable and very positive impact on the number of arrivals in Lisbon.
Until then, you can have the place pretty much to yourself! Okay, so that’s an exaggeration, but compared to other capital cities and major locations in Europe, Lisbon’s visitor numbers are unimpressive and its property market is nicely priced as a result! Whereas in Barcelona you’re easily looking at EUR 10,000 per sqm for quality apartment stock, think EUR 3,500 per sqm in Lisbon.
So, what’s the catch? Well, as far as we can tell there isn’t one! The city is stunning – you have the fascinating and beautiful old town elements which are easy on the eye and where you can find fabulous bars and restaurants. If you like this part of the city you may be tempted to buy property in Portugal in Lisbon’s Castelo, Alfama, Bairro Alto, Chiado and Santa Catarina districts.
If you want modernity check out the old Expo site which is now home to some fascinating architecture and some excellent eateries and event locations, and what’s more, it’s a favourite with investors as it has excellent infrastructure and very attractive real estate prices.
Seriously, if you’re looking for an overlooked location and a location where there is much beauty, much culture, much history and much property (!), look at Lisbon…it’s lovely.