Overseas property refurbishment worth €911.8 million

 In News, Property, Real estate investment, Relocating, Urban Rehabilitation

In 2023, 4,750 residential properties were transacted in Lisbon’s Urban Refurbishment Area (ARU) worth a total of €2.2Bn. Foreigners were responsible for 33% of purchases and 41% of the total investment in these neighbourhoods earmarked by the government and city council for housing refurbishment as part of an urban regeneration policy.

There were 1,580 transactions from overseas buyers worth €911.8 million, although overseas buyers fell 7% in these areas on 2022, although the amount of capital invested remained stable. (+0.2%) according to Confidencial Imobiliário.
The area covered under the law for refurbishments in Lisbon comprises 21 of the 24 neighbourhoods in the borough. (excluding Santa Clara, Lumiar, and Parque das Nações)