In Lisbon's Urban Rehabilitation Area (ARU), 4,750 residential units were sold for a total of €2,217.7 million in 2023, with 1,580 of those properties being purchased by foreigners, according to Confidencial Imobiliário. The one-third of properties, which were acquired by international buyers totals €911.8 million, and although international activity kept the amount of capital invested constant (+0.2 percent) the number of transactions decreased by 7 percent when compared to 2022.

In regards to the nationalities present in the international demand for properties in Lisbon, you can find North Americans in first place with 16 percent of the properties acquired which corresponds to 245 properties, the French in second with 13 percent (205 properties), and in third place lays the British with 9 percent (137 properties). Moreover, investors from the United Kingdom and North America registered an increase in both the number of properties acquired as well as money invested, with the last ones dethroning the French as the 2022 leaders in foreign investment. On the other hand, although placed in second, the French saw a decrease in both the number of acquired properties (21 percent) as well as in the money invested (28 percent), when in comparison with the year 2022.

China, Brazil and Germany represent the nationalities placed third, fourth, and fifth, respectively, with all of them seeing major negative changes in both the number of houses acquired and the money invested. China registered the biggest decline among all nationalities and reduced its activity in half. When it comes to the Portuguese buyers, they acquired 3,170 properties in 2023 for a total of €1.305. 9 million, which represents an annual drop of 14 percent in the number of transactions and a drop of 23 percent regarding the amount invested.


Taking into account private housing acquisitions made inside the boundaries of the Lisbon Urban Rehabilitation Area, which includes 21 of the 24 parishes in the municipality (not including Santa Clara, Lumiar, and Parque das Nações) it can be noted that Lisbon’s parishes which have seen a higher demand and major international investment are Estrela, Santo António and Arroios. Each one of them has around 190 properties purchased by foreigners, with Estrela leading the chart in foreign investments with 17 percent, which therefore translates into €155.4 million. In contrast, parishes like Alcântara e Campolide saw a decrease in the number of international buyers interested in purchasing a property in those parishes.

Author

After studying Journalism for five years in the UK and Malta, Sara Durães moved back to Portugal to pursue her passion for writing and connecting with people. A ‘wanderluster’, Sara loves the beach, long walks, and sports. 

Sara J. Durães