Belém leads as Lisbon’s most expensive parish for real estate, with average home prices of €1.1 million. Discover the latest findings on property prices, high-demand neighborhoods, and the impact of new construction in Portugal’s capital.
Belém Tops Lisbon’s Real Estate Market as Most Expensive Parish, New Construction Booms in Expanding Neighborhoods
Lisbon’s property market continues to make headlines, with Belém now officially the most expensive parish in the city. According to a recent study released on the Portuguese real estate sector, the average property in historic Belém costs an impressive €1.1 million. The surge in prices underscores Lisbon’s growing appeal among luxury homebuyers and highlights widening gaps between city neighborhoods.
Top Five Most Expensive Parishes in Lisbon
Close behind Belém is Parque das Nações, where property averages €1 million—renowned for its riverside setting and modern infrastructure, it remains one of the city’s most coveted areas. The rest of the top five is rounded out by Areeiro (€850,000), Estrela (€840,000), and Avenidas Novas (€835,000), which are all known for their central locations, high-quality amenities, and continued demand from both domestic and international buyers.
Contrasts in Lisbon: Affordable vs High-End Neighborhoods
Despite these high prices in central and riverside parishes, Lisbon also offers neighborhoods with more affordable real estate options. For instance, in Ajuda, average property values stand at €290,000, while Beato claims an average of €329,900 and Santa Clara comes in at around €352,000. However, these prices, though lower, remain out of reach for many Portuguese families, reflecting the overall upward pressure on Lisbon’s housing market.
Apartments Dominate Lisbon Housing Supply
A notable trend across Lisbon’s real estate is the predominance of apartments, even in more affordable parishes. In Ajuda, Beato, and Santa Clara, the entire property supply consists of apartments, demonstrating the capital’s overwhelming focus on this typology. In fact, even in high-value areas like Parque das Nações, virtually all available properties are apartments—solidifying their status as the residence of choice for urban dwellers.
New Construction Fuels Growth in Expanding Parishes
New construction is making a significant mark on Lisbon’s real estate landscape. Parishes such as Lumiar, with an average price of €797,000, and Marvila, at €680,000, stand out for their robust pipeline of new developments. In both areas, over 75% of the homes listed on platforms like Imovirtual are new builds. This wave of modern residential projects is providing much-needed housing and responding to the surging demand of Lisbon’s dynamic population.
Lisbon Real Estate: Luxury, Growth, and Diversification
The latest data confirm Lisbon as a real estate hotspot, blending exclusive, luxury communities in Belém and Parque das Nações with dynamic new construction in rising neighborhoods like Lumiar and Marvila. Meanwhile, historic and emerging areas like Ajuda and Beato offer relatively accessible options, though prices remain elevated by national standards.
As supply remains apartment-focused and new developments rise, Lisbon’s property market is set to remain one of Portugal’s most attractive—yet challenging—for homebuyers and investors alike.
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