Lisbon and Setúbal most sought after areas for luxury property

 In Estate agencies, Luxury property, News, Residential Real Estate

Lisbon and Setúbal are the most sought after districts by those looking for houses for sale for more than €1 million, according to data from online property portal Idealista, on Tuesday.

Idealista points out that “although Lisbon, Porto and Faro concentrate more than half of the offer, all Portuguese districts and islands have at least one luxury home for sale”.

According to Idealista “there have been more and more homes with prices above €1 million hitting the market: there were more than 21 thousand properties at the end of 2024, 23% more than a year ago and the highest value recorded since 2019”. “Although demand growth was not linear (tending to fall at the end of each year), in the last three months of 2024 the search for premium housing was at one of the highest levels in the last six years”, it stresses.

Idealista recalls that during António Costa’s PS socialist government when the end of golden visas came into force, “there was an annual drop of 10% and a quarterly drop of almost 22%”.

With regard to the important aspects of buying a luxury home, “there are those who value being close to the sea and the diversity of health, education and transport services, as well as more job opportunities.

And there are also those who seek to live in a house, with a pool and garden, away from large urban centres, or even in the interior of the country”.