This is according to data from the Europa Cities Guide 2021, a study prepared by the consultancy firm Knight Frank.
Lisbon and Porto are at the top of the selection of 11 European cities with the most demand in the luxury real estate sector, according to the Europa Cities Guide 2021, a study prepared by Knight Frank. The consultancy firm highlights the "warm climate and atmosphere of the capital", popular with tourists and at the forefront of the greenest cities in Europe, but also the quality of life of Portugal's second city, increasingly sought after by nationals and internationals to "put down roots" in a city that "offers the best of both worlds". Let's find out more about luxury real estate investment in Portugal's cities.
Portuguese cities compete for investment in luxury real estate with cities such as Paris, Berlin, Frankfurt, Milan, Madrid, Barcelona, Vienna, Geneva and Bucharest. Oliver Banks, a senior negotiator at Knight Frank, explains that there has been a re-evaluation of real estate needs during and after the pandemic, but also a greater demand from domestic clients throughout the European market. Developers and builders have "noticed the power of the domestic market" and its importance for their expansion strategies.
According to Knight Frank's PIRI 100 (Prime Residential Index), the luxury property market saw growth of 1.9% in 2020 compared to 2019. The consultancy firm predicts that it anticipates that global investors will continue to show interest in investing in European cities, especially in cities inserted in innovation-driven economies that have a growing technology sector and high rental demand, such as Lisbon and Porto.
Marta Espírito Santo, director of the international department of Quintela + Penalva + Knight Frank, reinforces the idea that Portugal is a certainty. "International clients are getting to know our country better and better and know exactly what they are looking for. The articulation with Knight Frank has been fundamental to anticipate trends and adjust our offer to the measure of each client", she states.