Property prices in the Portuguese capital have increased by 5.6%, surpassing capitals such as Madrid, Seoul, Dublin, and Zurich.
Luxury homes in Lisbon
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Lisbon continues to attract foreign investment in the luxury real estate sector, ranking 11th in the list of cities where property prices have risen the most in the first nine months of the year 2024. The Portuguese capital even outperforms cities such as Geneva and Monaco, according to the Prime Global Cities Index by Knight Frank.

According to the latest report from the real estate agency Knight Frank, which has partnered with the Portuguese company Quintela e Penalva since 2021, out of 44 cities monitored, most (29) saw an increase in prime residential prices compared to last year.

The data collected and presented in the report, covering the first nine months of 2024, highlights Lisbon as one of the cities where prices continue to rise. “Property prices in the Portuguese capital have risen by 5.6%, ahead of capitals such as Madrid, Seoul, Dublin, Zurich, Sydney, Monaco, and Geneva,” the statement sent to the press emphasises.

Manila continued to experience a "notable increase", topping the table. The capital of the Philippines recorded a growth of 4.6% in the last three months and an annual increase of 29.2%, driven by strong economic growth and rising consumer confidence.

Prices rise, but the pace slows

The Knight Frank report reveals, however, that global prices have slowed in the last three months, including in Lisbon, which dropped from a 5.6% increase over 12 months to 1.6% in the last three months.

Liam Bailey, Knight Frank's Global Head of Research, points out that this recent slowdown in global price growth "reflects the need for additional stimulus through new interest rate cuts before prices can be strengthened again." "We believe that the anticipated wave of cuts in 2025 will support greater price growth in the medium term," he adds.

From the perspective of Francisco Quintela, founding partner of Quintela + Penalva, Knight Frank's partner in Portugal, "the national market remains attractive for foreign investment. Our economic stability sends positive signals abroad, and some interesting products are emerging that attract both national and international investors," he concludes.