Lisbon has soared up the rankings of Europe’s most attractive cities for investment, climbing an impressive 97 places compared with 2024 to reach 116th position in Savills’ latest Resilient Cities Index.
Just two years ago, the Portuguese capital languished in 213th place. This dramatic rise is being driven by a surge in property investment, particularly from international buyers, alongside stronger GDP growth, rising university rankings and positive migration trends.
According to Savills, Lisbon’s upward trajectory reflects years of steady momentum in the real estate market, cementing the city’s reputation as one of Europe’s most compelling investment destinations.
“This evolution confirms the growth trajectory that Lisbon’s property market has demonstrated in recent years, reinforcing the city as one of Europe’s most attractive destinations for investment, closely linked to the strength of tourism,” said Rita Bueri, Head of Residential Lisbon at Savills Portugal.
“It also reflects consistent modernisation and a shift in priorities. Today, true luxury is quality of life – time, proximity to nature and safety – factors Lisbon offers in a more balanced way than many major global cities.”
Still outside the top 100 – but gaining momentum
Despite its sharp rise, Lisbon remains just outside the top 100 in an index led by global heavyweights including New York, Tokyo, London, Seoul and San Francisco.
However, this year’s most significant changes were seen in the middle of the table, where several mid-sized cities made notable gains.
Paul Tostevin, Head of Savills World Research, explained:
“We are seeing a number of mid-sized cities adapting rapidly to economic, technological and environmental change – and translating that into clear performance improvements and stronger growth prospects.”
Southern Europe on the rise
Cities across southern Europe – including Portugal, Spain, Italy and Greece – are clustered in the mid‑ranking positions, recording an average rise of 36 places over the past two years.
Spanish cities have performed particularly strongly. Madrid now ranks 34th, while Barcelona sits in 47th place. Higher-value service economies, below-average unemployment rates and record-breaking tourism levels have helped fuel their ascent.
Why investors are watching Lisbon closely
For investors, the Resilient Cities Index highlights markets with the strongest potential for capital appreciation. For businesses, it identifies cities where demand for goods and services is likely to remain resilient, supported by a stable and skilled talent base.
With international capital flowing in, tourism hitting historic highs and quality of life increasingly prized by global talent, Lisbon’s rapid rise suggests the city is no longer an emerging prospect — but a serious contender in Europe’s investment landscape.
Could Lisbon be Europe’s next property powerhouse? Investors are clearly paying attention.
