2023 record year for overseas investment in Lisbon property

 In News, Property, Real Estate, Real Estate Investments

Last year was a record for overseas citizens snapping up residential property in Lisbon according to SIC Notícias.

On the other side of the coin, local residents are finding it increasingly difficult to find a home in the capital according to data compiled by the newspaper Diário de Notícias, which revealed that 41% of all home buys by foreigners were in the Lisbon area.
UK and US citizens were the nationalities that most invested in the Lisbon market, whereas Chinese investment, which used to top the list, plummeted by almost 50% last year from €101 million to €54 million.
However, the constant upward spiral of house prices in Lisbon in 2023 – now slowing in pace — led to a 14% crash in Portuguese investment in 2023 on 2022.
Foreigners are increasingly looking for properties, not just in the downtown baixa, but also in neighbourhoods further from the centre such as Campolide and Alcântara.
US citizens were the biggest investors last year (€141 million) followed by the French, British, Brazilians, and Germans.
In Lisbon, Estrela, Santo António and Arroios were the neighbourhoods that attracted the most investment, all garnering over €100 million.