In the last three years, the Portuguese capital went from 16th to 8th position among the best cities to invest. But it is considered even more interesting for real estate development, in 7th place on the list.
Lisbon is the eighth most attractive European city to invest in real estate in 2023, in a ranking that is led by London, in the United Kingdom. The Portuguese capital improved its position compared to last year (11th place). In second and third place on the list are Paris (France) and Madrid (Spain), respectively. At issue is a ranking contained in the annual report “Emerging Real Estate Trends in Europe”, by PwC and the Urban Land Institute (ULI).
“With so much uncertainty at stake, property investors are naturally more careful than ever about how and where they invest their capital in Europe. For many, this means focusing on cities that offer liquidity in times of greatest risk,” the report concludes.
According to the report, London and Paris represented around 15% of the total volume of real estate transactions in Europe in the first nine months of 2023. However, the liquidity premium combined with economic performance is also evident in other rising cities, such as Madrid, Milan (Italy) and Lisbon, which occupy 3rd, 6th and 8th place in the ranking, respectively.
Also noteworthy is the fact that the German cities of Berlin (4th place), Munich (7th), Frankfurt (9th) and Hamburg (11th), despite still maintaining a relatively high position, have fallen in the ranking in terms of investment prospects and development. The overall bleak economic outlook for Germany in 2024 is influencing sentiment towards cities that not long ago were considered safe havens for capital.
In Portugal, it is expected that prices in the residential market will continue to rise, given the widespread lack of inventory, a market seen as more stable than the commercial sector. More specialized sectors, such as student or senior residences, are attracting investment attention as well.
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