Lisbon has become one of the hottest European cities to visit. It’s often hailed as an alternative to traditionally popular destinations such as Barcelona and Paris.
Like those two European capitals, it has history, culture, beautiful architecture, and delicious food.
That makes it an ideal place to own a vacation home, says Miguel Poisson, managing director of Portugal Sotheby’s International Realty.
The city is safe, the people are gracious, and the cost of living is relatively low, he says.
“Due to tourism, (it) is a dynamic and cosmopolitan city constantly growing,” he says.
For those seeking real estate in Lisbon, there is a lot of new construction. Part of the old town has been updated in recent years.
“The investment in new buildings and infrastructures from scratch is growing with a clear focus on high-end solutions,” he says.
More foreigners are moving to the city as well, partly because the tax system is favorable towards them, he says.
“Lisbon is becoming a new startup center in Europe, driven by new technological solutions,” Poisson says.
The city’s popularity is making real estate prices rise, he says. Sotheby’s deals with luxury properties with an average transaction of 900,000 euros or about $1 million.
The most popular properties are in the city center, but places with river views are also coming on the market.
“Lisbon is followed by Rio Tejo and, as such, a unique part of the city is facing the river with a magnificent view,” he says.
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