This market is evolving rapidly. In central Lisbon, prime luxury property is already commanding up to €15k per square meter according to my contacts. Even in emerging neighborhoods like Graça, prices have climbed to €7,000 to €8,000 per square meter and rising.
Demand for quality housing continues to grow. Everywhere we went, we heard the same story: young professionals, remote workers, and local companies are competing for a limited supply of well-located, affordable homes.
That imbalance is pushing rents and property values higher, not just in Lisbon but also in the surrounding areas where buyers can still find value.
To get a clearer picture of where the opportunities are now, I joined several of our Elite Members for a guided property tour of the Greater Lisbon Area. Here’s what we saw…
Stop 1: Graça
We began in Graça, an up-and-coming area of Lisbon just outside Lisbon’s main tourist areas.
It offers a glimpse of what the city felt like decades ago… authentic and lived-in. The streets are lined with local cafés and family-run shops. Some buildings show their age, but that’s part of the appeal.
Ground-Floor Apartment In Azulejo-Clad Building—€485k
We toured a ground-floor apartment just off of Graça’s main road. It offers 81 square meters of interior space plus a small outdoor area with space for a laundry room and barbecue.
The apartment comes in at just under €6,000 per square meter, positioning it below current market rates and comparable properties in more established central districts.
Stop 2: Sesimbra
From Graça, we traveled south to Sesimbra, a coastal town about an hour from Lisbon. Known for its beaches, natural scenery, and relaxed lifestyle, Sesimbra’s market is driven by lifestyle buyers, second-home owners, and seasonal rental demand.
Here, we toured a new condo development consisting of two buildings currently under construction. Units range from two-bedroom apartments starting at around €500k to penthouses in the seven-figure range.
Stop 3: Setúbal
We continued to Setúbal, a major port city south of Lisbon that’s increasingly popular as an alternative to the capital. Here you have access to the coast along with amenities and a sense of community, all at a more accessible price point than Lisbon…
Setúbal is seeing an influx of domestic buyers, remote workers, and expats. This peninsula had the highest annual gains in property prices nationwide—up over 20% last year. This could be Portugal’s next big property hotspot.It’s here that we have—for now—a short window of opportunity to secure both serious appreciation and long-term rental income with a brand-new opportunity…
- One-of-a-kind historic property—from €216k
This new opportunity features the conversion of a former nunnery into a luxury residential development.
One of the best ways to maximize your upside is to invest in property with intrinsic value… be that location or unique characteristics that are difficult to replicate.
This project is already in a prime location—a stunning coastal area with a vibrant city… with the ocean nearby as well as two major nature parks with beaches, all on the doorstep of Portugal’s capital, Lisbon…
On top of that, this project involves the transformation of an 18th-century convent into a boutique luxury residential development.
This isn’t a replica or a themed project. It’s a real historical artifact.
The building has stood for over three centuries. It survived the Great Lisbon Earthquake of 1755, which leveled 85% of Lisbon’s buildings. Its original walls still stand today—a foundation of enduring value.
The building will be renovated into 15 high-end apartments arranged around a central courtyard with a pool and garden.
Inside, it’s an oasis of peace and serenity… Outside the ancient stone walls, you’re in Setúbal’s vibrant historic center with narrow cobblestone streets and colorful buildings… Old World charm at its finest.
And the property is just a 10-minute walk from the ocean.
Right now, we have access to pre-launch pricing. This gives us a 10% discount on the list prices until September, when the project will be made public.
This means that you can get in from just €216k for a 45-square-meter apartment… with larger units from 95 square meters upwards also available from €356k to €450k.
These units boast exceptional short-term rental income potential up to €26,700 net annually.
To find out more about this early-stage opportunity, click here to contact our local partners.
Stop 4: Montijo
Our final stop was Montijo, located about 30 minutes from central Lisbon across from Vasco de Gama Bridge. Once an industrial town, Montijo has undergone a transformation and is now emerging as one of the region’s most practical and affordable residential hubs.
It’s accessible and livable. Residents are close to Lisbon’s business districts, the airport, and major transport routes while enjoying a quieter, more relaxed pace of life. It has infrastructure including shops, hospitals, retail centers, and more.
Our local contacts also offer an opportunity in Montijo’s historic center…
Here you see traditional elements—calçada paving, azulejo-clad buildings, small neighborhood cafés, and so on. They even do bull running through the historic center’s main road.
- Renovation project designed for long-term rental—from €150k
This opportunity is a renovation project converting an existing building into units that range from studios to two-bedroom apartments. Prices start from €150k.
I got to tour a number of the units, which are at different stages of renovation, with some nearly ready to be occupied. These will make for comfortable long-term rentals for Portuguese locals, bringing in stable rental income for investors.
The units are arranged around a central patio, creating a nice ambiance for long-term tenants. Given the ongoing housing shortage in Lisbon, properties like these are well-positioned to achieve high occupancy rates and stable rental income. Find out more about this opportunity here.
This group’s other development in the area sold out months after we launched it—proof of this area’s strong demand.
To smooth travels and successful property buys,
Sophia Titley
Editor, Overseas Property Alert