21st May 2024
Lisbon in top 30 cities worldwide where luxury house prices have most risen

The prices of luxury houses in Lisbon are growing according to the Knight Frank Global Cities Index in which Lisbon comes in 28th place worldwide.

 

Lisbon posted an annual growth rate of 1.8%, from 0.9% at six months and 0.4% at three months, ahead of cities like Paris, Vienna, Geneva, London and Monaco.

 

The average annual growth of house prices in the luxury segment has increased 4.1% in the 12 months to March, 2024, a percentage above the 3.2% registered in the last quarter of 2023.

 

According to the Frank Knight Prime Global Cities Index, which studied 44 markets, Lisbon included, this is the strongest growth rate seen since the third quarter of 2022.

 

Francisco Quintela, CEO of Quintela e Penalva, Knight Frank’s partner in Portugal since 2021 states: “This data shows that the national market has been very resilient and continues to be in the sights of international investors, which is very positive for the sector and for the national economy”.

 

“The recovery of the real estate markets worldwide continues, as evidenced by our Prime Global Cities Index. But rather than announce a return to boom conditions, the index shows that house price (upward) pressure is the result of relatively healthy demand compared to low supply.

 

“Interest rate changes, when they happen, will encourage more sellers in the market, leading to a welcome return of liquidity in our main world markets”, said Knight Frank Global Head of Research, Liam Bailey.