Portugal’s luxury residential market has shown remarkable resilience in the face of economic and political turbulence. From inflation and fluctuating interest rates to pandemics and geopolitical shifts, this niche sector continues to attract both domestic and international investors. According to Diogo Lopes da Costa, CEO and Founder of boutique real estate consultancy A&D Consulting, “Prices will continue to rise in the luxury property segment, particularly in prime locations such as Cascais, Estoril and Lisbon, where supply remains limited.”
- Tailor-made real estate strategy
- 2025: a strong start for the luxury segment
- Premium properties in prime Portuguese locations
- High-net-worth international clientele
- What sets A&D consulting apart
- Addressing the housing crisis in Portugal
- Global factors shaping the property market
- Market outlook: rising prices and limited supply
- Technology and AI in real estate
- The human element still matters
- More regulation and training needed
- What lies ahead for luxury real estate in Portugal
Tailor-made real estate strategy
A&D Consulting was founded four years ago with a clear mission: to combine strategic vision, marketing and sales into a full-service offering tailored to premium property developers. “Each project is unique and deserves meticulous attention to detail,” says Lopes da Costa. The consultancy manages everything in-house—from branding and 3D renderings to websites and curated campaigns—streamlining the sales process and delivering high-impact results.
Their portfolio includes standout developments such as Grand Loft Avenida, The Republic 95 and The Book Store Apartment in Chiado, Lisbon. “We have a passion for urban regeneration, period façades and distinctive architectural details,” he adds.
2025: a strong start for the luxury segment
Reflecting on A&D Consulting’s progress, Lopes da Costa notes a solid increase in sales volume and growing confidence, especially among international buyers. “American clients, in particular, now represent a significant part of our clientele,” he explains. After a politically uncertain 2024, this year has brought renewed energy to the luxury market, fuelled by continued scarcity of stock.
Premium properties in prime Portuguese locations
The consultancy focuses exclusively on the high-end residential market, operating in sought-after areas including Lisbon, Cascais, Porto and Sesimbra. “Portugal has gained international appeal, with Lisbon and Porto becoming increasingly cosmopolitan. The demand for sophistication and uniqueness has never been higher—and that’s exactly the kind of challenge we embrace.”
While A&D Consulting’s core business lies in property sales, they also handle occasional rentals for strategic clients. “As a boutique agency, we believe specialisation leads to excellence,” says Lopes da Costa.
High-net-worth international clientele
The firm primarily serves affluent international clients—Americans, Brazilians and French nationals—with average transactions around €1.5 million. Portuguese buyers also feature in their client base, particularly those seeking rare, well-located properties. A&D offers bespoke support, with an emphasis on discretion, efficiency and trust.
What sets A&D consulting apart
“Our differentiator is a total focus on the developer,” says Lopes da Costa. From concept to sale, A&D helps create high-liquidity, standout properties. They provide technical input, suggest finishes, shape branding, and deliver all marketing materials to premium standards in-house. “We design each project as a whole, not just the easiest units to sell—because true profitability lies in the final sales.”
Addressing the housing crisis in Portugal
Lopes da Costa believes structural reform is vital to tackling the current housing supply crisis. “We must support developers and investors. Faster planning approvals, reduced bureaucracy, and reforming taxes such as IMT are crucial. Lowering VAT on new builds to 6% could significantly boost supply.”
He welcomes the Portuguese government's support for first-time buyers—such as IMT exemptions and loan guarantees—but feels the measures don’t go far enough. “The value caps exclude many families, even those seeking modest two- or three-bedroom homes in city centres. More fiscal incentives are needed to attract private investment and expand housing availability.”
Global factors shaping the property market
The international backdrop plays a key role in shaping the Portuguese property market. “After Trump’s election, we saw a noticeable increase in interest from American buyers. Portugal is seen as a safe, attractive destination with an excellent quality of life.” Falling interest rates have also spurred activity, reaffirming Portugal’s position on the global real estate radar.
Market outlook: rising prices and limited supply
Looking ahead, A&D Consulting anticipates further price increases in the luxury segment, particularly in Cascais, Estoril and Lisbon. “We're already seeing transactions exceed €20,000 per square metre. We have a strong pipeline for the coming months, including an exclusive development on Avenida da Liberdade in Lisbon, in partnership with a key client.”
Technology and AI in real estate
Artificial Intelligence is increasingly present in content creation, 3D visuals and marketing support. While AI is a useful tool, Lopes da Costa insists it cannot replace the human touch. “Buying a property is an emotional decision that requires trust and close guidance—qualities that remain the domain of experienced consultants.”
The human element still matters
Despite tech advances, Lopes da Costa believes the role of the estate agent—particularly in the luxury market—will only grow in importance. “Luxury property demands a high level of personal involvement, technical expertise and empathy. Technology can support, but trust is still built face-to-face.”
More regulation and training needed
Lopes da Costa strongly supports increased regulation and training within the industry. “Right now, anyone can enter the profession, which undermines quality and credibility. We advocate for minimum standards in education, certification and ethics to elevate the real estate sector in Portugal.”
What lies ahead for luxury real estate in Portugal
“The market will become more competitive, with new forms of digital promotion and stronger social media presence,” he concludes. “But the core values will remain unchanged: ethics, competence and commitment to the client. In luxury real estate, where every detail counts, the role of the consultant will always be indispensable.”
Affluent, premium and luxury: a snapshot of the high-end real estate market in Portugal
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