Lisbon continues to be one of the most gay-friendly countries in the world. The Príncipe Real area, in Lisbon, has long been the preferred place to live for the LGBTI+ community, making it one of the best gay neighbourhoods in Lisbon. However, it's certainly not the only one, and there are other places that stand out on the map of the most sought-after inclusive neighbourhoods to buy or rent a house in Greater Lisbon. The Avenida Almirante Reis area is one of them, while attention is also focused on the South Bank, namely Almada and Caparica. And if you're planning to move to LGBT-friendly Lisbon, how much does it cost to buy or rent a house in the best gay neighbourhoods? idealista/news went in search of answers, just in time for Lisbon Pride 2022.
Príncipe Real, the most inclusive neighbourhood in Portugal
João Passos, head of the project 'Lisboa Pride - Homes for Everyone', and a real estate consultant with Remax for several years, confirms in an interview with idealista/news that Príncipe Real, located in the parish of Misericórdia, continues to be an inclusive area par excellence, because "many of the main and most iconic businesses" frequented by the community are still located in this area. The consultant highlights the centrality of the neighbourhood, with its easy access, but also the "tranquility, multiculturalism and proximity to areas such as Chiado, Bairro Alto and downtown Lisbon". Despite this, and in recent years, the trend has slowed down, "as a result of growing real estate speculation that has caused prices in this area to become unaffordable, at least for the national LGBTI+ community," he points out.
Data from idealista/data shows that the Misericórdia parish remains one of the most expensive in Lisbon to live in, despite a cooling of prices in the market between 2020 and 2021, in the middle of the pandemic.
Property for sale in Misericórdia
"In the last year, both markets, sale and rental have seen prices rise. Moreover, this is a parish that has registered a strong demand from the market. Note that only between 2020 and 2021 did this indicator fall, and only in the rental market (-9%). In terms of supply, only in the last year there was a drop in volume with -40% in the purchase and sale market and 80% in the rental market", according to the analysis of the specialists at idealista/data.
Property for rent in Misericórdia
Santo António, gay friendly but one of the most expensive in Lisbon
Analysing the most inclusive areas, and given the geographical proximity to the parish of Misericórdia, João Passos also highlights the parish of Santo António, which is also one of the most expensive to buy or rent. According to idealista/data, in this Lisbon parish, prices have increased in the last four years, but at a slower pace. In four years, prices for the buying and selling market have increased around 12%. In the rental market, the increase was 13%.
Property for sale in Santo António
"The demand relative to this parish shows a generally increasing trend of the indicator with relevance for the period between 2020 and 2021 in the purchase and sale market (+130%) and for the period between 2022 and 2021 in the rental market (+358%). Also in this parish of Lisbon there has been in the last year a fall in the volume of supply, -25% in the purchase and sale market and -59% in the rental market", indicate from the data specialists at idealista.
Property for rent in Santo António
Almirante Reis Avenue, an up and coming area
Although Príncipe Real is still the LGBTI+ area par excellence in Lisbon, there are other areas and neighbourhoods growing and attracting the gay community in Lisbon. The Almirante Reis area, especially the Arroios area, is a good example.
"Lower prices, the opening of new LGBTI+ friendly businesses, good transport and a more rebellious spirit have put Intendente, Bairro das Colónias and even Penha de França on the map of the most sought after places for LGBTI+ people to live in Lisbon," explains João Passos.
In the parish of Arroios, as the data shows, prices on the buying and selling market are observing an upward trend. The only exception was in the period between 2020 and 2021 in which the unit price practically remained stable and the overall price fell by 9%.
Property for sale in Arroios
"In the rental market, and in a total perspective of the market, we verify that only in the last year did prices increase. In terms of relative demand, we can see that the parish is very dynamic in the buying and selling market. As for the rental market, only in the last year has there been a notable growth of over 300%. As for the available stock, in both markets there was a drop in the last year, -37% in the buying and selling market and -59% in the renting market", indicates the analysis of the specialists of idealista/data.
Property for rent in Arroios
The behaviour in the parish of Penha de França was similar in terms of prices. idealista/data points out "a clear cooling down in the period between 2020 and 2021, certainly justified by the pandemic". In terms of demand, the data shows a positive variation of this indicator over the last four years in the buying and selling market. In the rental market, the record in recent years has been of a fall, with the exception of the last year, as happened in the parish of Arroios.
Margem Sul: is Lisbon's South Bank a new LGBTI+ destination in the city?
Last year, João Passos had already identified Lisbon's South Bank (Margem Sul) as a destination of special interest for the LGBTI+ community, and the trend continues. At a short distance from Lisbon, Almada and Caparica are emerging areas, characterised by their proximity to beaches.
"The dream of having a house in the country or on the beach is increasingly becoming a reality, both by nationals and foreigners, motivated by the search for a certain return to origins and a more sustainable lifestyle, supported by the new possibilities of remote work," explains the real estate consultant.
In the Trafaria and Caparica area for example, in the buying and selling market, the trend in market prices has been upwards in recent years. In the rental market, and despite some cooling off between 2020 and 2021, there has also been a rise in prices in recent years in practically all areas.
Property for sale in Trafaria and Caparica
"The apparent slight drop in unit price of -7% and in global price of -12% verified in the last year for the total residential market was due to negative price variations verified in the typology T0 for which the sample is not representative. These numbers highlight the importance of a detailed analysis of the available market information, especially in the rental market where supply is scarce", stresses the idealist/data team.
Property for rent in Trafaria and Caparica
In the Parish Councils of Almada, Cova da Piedade, Pragal and Cacilhas, with the exception of slight price falls between 2020 and 2021, it is possible to state that, from a total market perspective, the trend over the last four years has been of general price increases. This growth has been more evident in the buying and selling market than in the renting market. Last year, for example, global prices for the residential market increased by 18%.
Property for sale in Almada, Cova da Piedade, Pragal and Cacilhas
In this Lisbon parish, relative demand fell in both markets (sale and rental) between 2019 and 2020. The trend of this indicator continued in the following period in the rental market (-47%), recovering in the last year. As for the sale and purchase market, there was some cooling of demand in the last year (-3%). Regarding the supply indicator, it's important to refer the drop in available stock in the last year in both markets: -38% in the purchase and sale market and -45.5% in the rental market.
Property for rent in Almada, Cova da Piedade, Pragal and Cacilhas
João Passos believes that the appetite for all these gay-friendly areas in Lisbon remains and even believes that it has a tendency to increase, "whether in the more urban centres, for a more national and younger community, or near the beaches, for a more international and adult segment, in a retirement or investment perspective," he concludes.
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