Autumn 2022 could be an excellent opportunity to buy a home in Portugal. But, how are things going with the cost of apartments and houses in the so-called "greater Lisbon" zone, which includes not only the capital of the country but also its surroundings? In this article, we are going to answer this question and briefly overview prices for various categories of real estate in the Lisbon area in September 2022.
Do you want to buy a property in Lisbon in autumn 2022?
Suppose you decide to buy a house or apartment in Portugal. In that case, we recommend that you constantly monitor current offers on the following most popular websites for finding and selling real estate in the country:
We will also use these websites when analyzing the real estate market in Lisbon, which you will get acquainted with in this article.
Suppose you don't want to delve into and understand the nuances of the Portuguese real estate market. In that case, you can always simplify your life by contacting professional real estate agents in Portugal, which you can find without leaving our website WithPortugal.
Real estate prices in Lisbon in September 2022
Whether you are looking for and buying property in Portugal on one's own with the help of a real estate agent, it is always essential to understand the current market and price dynamics in a particular region of the country.
To understand what is currently happening with the price level for houses and apartments in the Greater Lisbon area, let's use an extraordinarily convenient and understandable Idealista website tool. This tool allows us to track the dynamics of real estate prices and understand how much one sq. meter is in a particular city or region in Portugal.
Using this tool to analyze prices in the Lisbon region, we see that in the autumn of 2022, the cost of one square meter is 3,841 euros, while this value is +7.4% higher than in the last year's autumn.
As we can see in the chart above, the level of real estate prices in the Lisbon region has only been growing over the past five years, and in the last two years, with the challenging situation in the tourism sector due to the pandemic, it didn't stop this growth, but only slowed it down.
Today, within the framework of this article, we will try to find the best options for buying a house or apartment in the Lisbon area in the autumn of 2022.
Cheap real estate in the Lisbon zone in autumn 2022
Let's start our search with the cheapest real estate options in the greater Lisbon area because, as you know, for many people, the price is a determining aspect. In this case, we will need to search not in the capital, where prices are the highest, but in the surrounding areas, which, although located at some distance from the capital of Portugal, are nevertheless part of the Lisbon municipality. With the help of the familiar Idealista website tool, we can sort the list of areas where real estate prices are the lowest. The picture below shows you the list of the cheapest sites within the "big Lisbon" for September 2022.
Let's go through this list and see what offers in these areas can be found on websites for finding and selling real estate.
For example, starting from 70,000 euros in the city of Cadaval, an hour's drive from Lisbon, you can find many options for apartments in excellent condition. The photo below shows an example of an apartment with three bedrooms and one hall, with an area of 110 m² for 79,800 euros.
Moreover, if you want to buy not an apartment, but a house, within a 1-hour drive from Lisbon, you can easily find affordable options. For example, in the town of Cadaval, starting from 40,000 euros, you can buy a small private house in good enough condition for reconstruction.
So, for example, in the picture below, you can see 148 sq. meters worth 42,000 euros.
Having paid about the same money, you can purchase a modular (frame) house with an area of 56 sq. meters, and there are such offers on the market all the time and in all regions of the country. An example of such a frame house can be seen in the picture below for 48,500 euros.
If we want to buy a house in good condition, ready to move in, we will have to pay for it starting from 70 thousand euros. In the example below, you can see a newly renovated two-bedroom house in the town of Azambuja (1 hour from Lisbon) with an area of 30 sq. meters and with a cost of 67,500 euros.
You can find houses in the region of 200 thousand euros or more in the same city, but with modern renovation. So, in the photo below, you can see an example of a house with a new premium finish and four bedrooms for 199 thousand euros.
The closer we move in our search to the center of Lisbon, the higher the cost of real estate will be, so we offer to evaluate the cost of apartments and houses directly in Lisbon.
The cost of real estate in Lisbon in autumn 2022
If you don't want to live an hour from Lisbon and you need to live directly within the capital of Portugal, then, of course, you need to consider not the "greater Lisbon" zone but only the areas of the city itself. We have already mentioned above that, in this case, the prices for apartments and houses will be as high as possible, but let's analyze the current offers on the market to understand how much an apartment directly in Lisbon can cost us.
By searching inside the city limits in Lisbon, you can see that there are various real estate options for 80-100 thousand euros.
For example, in the picture below, we can see an example of an old fund apartment with one bedroom, with an area of 40 sq. meters, and cost 85,000 euros in the area of Lisbon, which is called Beato. This apartment has already been redecorated, but within the city and within this price category, you will find many options that will need a thorough, sometimes major renovation.
In a popular area like Santa Clara, you can find apartments for as little as 125,000 euros, as we can see below in the loft-style apartment with one bedroom and 40 sqm. meters.
Although this does not often happen, if you want to buy an apartment in the very center of Lisbon, this is also possible. Usually, these are studios with a tiny area, from 15 to 30 square meters, and cost 100-120 thousand euros. Surprisingly, at the moment, the number of such offers has dropped dramatically compared to our winter or summer review.
Perhaps this is because the pandemic has formally ended, and the flow of tourists has again poured into the country, which motivates homeowners to rent out housing to tourists and not sell it. To confirm this guess, take a look at the ad below. Such is our real estate price reviews in Portugal never happened, although we have already seen tiny apartments of 15 sq. meters and apartments made from a garage or storage space.
A boat apartment is a new trend in the Portuguese real estate market. This apartment with one bedroom and one hall, with an area of 24 sq. meters and costing almost 110 thousand euros, is located in a perfect place in the Park of Nations, but how to live on the water and so in a country with almost 100% humidity and ordinary apartments is entirely incomprehensible. We will continue to follow new trends in the Portuguese real estate market.
If you are unsatisfied with small studio apartments and don't strive to live in the historical center of Lisbon, then pay attention to the Benfica area, with a relatively developed infrastructure, transport links, and close to the city center.
So, for example, an apartment with one bedroom and one hall can be purchased for 189,000 euros, as in the photo below. On the other hand, apartments with two bedrooms in the same area will cost around 200-250 thousand euros.
Yes, as we can see, buying an apartment in Lisbon is extremely expensive; for some reason, there are much fewer ads in the autumn of 2022 than in the summer, and prices in September are much higher. We will continue to monitor the dynamics of the real estate market in the capital of Portugal.
Luxury housing in the Lisbon area in autumn 2022
If the cost of real estate is not a determining factor for you, then we can start analyzing the most expensive properties in Lisbon in the autumn of 2022. But, first, let's see what is currently the most expensive housing, both within the city and beyond.
With the help of the usual Idealista website tool, we can sort the list of areas where real estate prices are the highest. So, for example, you can see the list of the most expensive places inside the "big Lisbon" in the picture below.
Well, it is not surprising that the most expensive price per square meter - 5,004 euros - is precisely in the center of the Portuguese capital.
The most expensive property in Lisbon is a building on the first line overlooking the Tagus River in the Alcântara area. The total area of this building is almost 4,000 sq. meters, it has four floors, and the house cost is 12,000,000 euros. This object may be pretty interesting for investors ready to invest in creating a hotel or tourist apartments.
At the same time, an old mansion, formerly a diplomatic residence, with six bedrooms in the Belém area, with an area of about 700 sq. meters and cost almost 7,000,000 euros. This option is suitable for those who prefer historic real estate.
If you like a more modern design, then for about the same amount, you can buy a luxurious modern villa with a pool, such as in the picture below.
You will also have many options if you have a budget of about 1 million euros. Most often, these will be apartments with 3 or 4 bedrooms, excellent repair, private condominiums, etc. Many properties are under construction. In the example below, you can see an example of an apartment in the very center of Lisbon with four bedrooms and a total area of 136 sq. meters and cost exactly 1 million euros.
With a budget of 500,000 euros, apartments with 1, 2, or 3 bedrooms will be available to you, with excellent renovation and location. In the example below, you can see a fully furnished and newly renovated apartment in a historic and dynamic area of Lisbon, with two bedrooms, an area of 90 sq. meters, and it cost 500,000 euros.
How much money do you need to buy a home in Lisbon in autumn 2022?
The answer to this question will depend solely on your budget and preferences for the quality of housing, its location, etc. As part of this article, we briefly overview the real estate market in the "greater Lisbon" area. We concluded that an apartment or even a house could be bought for 40,000 euros if you are ready to live an hour's drive from the capital or to restore and make significant repairs to the purchased house or apartment. Directly within the boundaries of Lisbon, apartments in good condition can be found, starting from 100,000 euros. Currently, the maximum price level for real estate in Lisbon is about 12 million euros for a building on the banks of the Tagus River, which will be of particular interest to those who plan to buy property for investment in Portugal.
So no matter your budget, even in the Lisbon region, you can find the property that suits you, whether you are buying property as your primary residence or as an investment.
In case you want to enlist the support of a real estate professional, we recommend that you seek help from a Real estate agent in Lisbon, which will help you in such an important and responsible matter as the purchase of real estate in Europe.
We wish you good luck choosing the right property, and we are waiting for you in Portugal!