The luxury residential market responded well to the Covid-19 pandemic and continues to be resilient in times of high inflation and rising interest rates. The most recent data from the real estate consultancy Savills shows that in Lisbon a luxury home cost, in the first half of 2022, 9,270 euros per square meter (m2), 3.7% more than in the same period last year.

According to the study by Savills, which analyses the price of luxury homes in 30 cities worldwide, the Portuguese capital is in the 24th position on the ranking, ahead of the Spanish cities of Madrid and Barcelona.

Leading the list is Hong Kong, where buying a house costs 41,870 euros per m2. New York (USA) and Tokyo (Japan) complete the podium, occupying second and third places: 25,280 and 22,250 euros per m2, respectively.

The overall increase is, according to Savills, a sign of “the resilience of the international real estate market”, which has been driven “by optimism in the residential market, interest rates which are still relatively low and the attractiveness of prime residential property as an investment”.