The increasingly accentuated imbalance between the new supply and demand for housing in central Lisbon, together with the growing trend towards the acquisition of ready-to-live-in properties, is boosting the resale housing market in the premium segment.

According to international consultancy Athena Advisers, the demand for this type of product began to intensify after the lockdown, when international buyers “not only were able to return to the Portuguese market, but they did so in strength and were willing to accelerate the purchase of housing, establishing themselves in Portugal as quickly as possible”, says Marta Salgado, responsible resale and leasing at Athena Advisers.

These buyers, who according to the sales made by the consultant in 2021 are essentially American, French and British, want “practically new or renovated houses, often with significant improvements and updates compared to the initial project, well located and in about 50% of cases already furnished. Basically, they are looking for turnkey housing, ready to be inhabited overnight without having to invest or worry about remodelling”, explains Marta Salgado.


The offer of houses for resale with these characteristics is very scarce, especially in the more traditional areas of Lisbon and which tend to be more sought after by foreign families, such as Lapa, Estrela, Santos and Príncipe Real. According to Marta Salgado “this shortage is even more evident in apartments with typologies above T3, as they are also the ones that best meet the requirements of these families”. In addition to these more traditional neighbourhoods, there are others that stand out in this type of demand, such as Marvila and Beato, where currently there is also a lack of product. The prices of these houses are in line with the general market: between €350,000 and €500,000 for T1; €500,000 and €800,000 for T2; from €1,000,000 for T3 and higher typologies.

Athena Advisers believes that the offer of this type of products in Greater Lisbon will tend to grow, especially in the city centre in neighbourhoods that, due to their characteristics, are highly sought after by the foreign population, and also in Cascais.

“For a few years now, Lisbon, and Portugal in general, has been a destination of choice for foreigners to reside and buy a home, and with the arrival of the pandemic and teleworking, it has become even more desirable. As such, there are many owners who see a business opportunity here”, comments Marta Salgado.

According to SEF, in 2020 the country witnessed an increase in the resident foreign population for the fifth consecutive year and, even in a pandemic year, the number of residents increased by 12.2% compared to 2019, with 71,747 new foreign residents arriving in the country.