SOARING PRICES IN LISBON

In Lisbon, soaring prices are driving the French to new districts

Lisbon has become one of the favourite destinations for French investors. In five years, prices in the centre of the Portuguese capital have quadrupled. According to the Portuguese Association of Estate Agents, the average price has risen from €1,500 to €6,000 per square metre. "In recent years, the historic centre of Lisbon has been renovated with new accommodation to cater for tourists". The property market is very diverse for a city as populous as Lyon (over 510,000 inhabitants): prices range from €3,500 to €10,000 per m²."

The consequence of this surge property pricesAs a result, some French people have preferred to settle on the outskirts of the city rather than in its historic centre. French retirees and other investors have opted for the outskirts of Lisbon and for more rural areas. Known for their tranquillity. As for young French couples with children, forced to stay in the city centre to stay close to schools, they are increasingly attracted to renting.

The French are the first buyers

Today, the French are the leading foreign buyers in Portugal (30% of foreign acquisitions). In reality, the French account for only 8% to 9% of property transactions in the country. The Portuguese have certainly suffered from the gentrification of certain districts, particularly in the centre of Lisbon, but we're still a long way from the protest movements in Barcelona. The Portuguese are pragmatic. They know what they owe to tourism, which has, among other things, helped the country to recover.