Lisbon is one of the only 4 cities where prices are expected to grow
There are only 4 major cities around the globe where property prices are expected to rise despite the pandemic and Lisbon is one of them, according to a report from Knight Frank.
Together with Monaco, Vienna and Shanghai, these are the prime residential markets projected to see price growth throughout the remainder of 2020, though at a low level between 0.1% to 5%.
Here you can buy a luxury property and still see its price rise this year, since property prices are set to rise in Lisbon despite the coronavirus pandemic. Also, the long-term rental market is going strong in the city at the moment, with demand from locals even increasing in the aftermath of the lockdown.
The agency analyzed prime prices in 20 cities across the globe based on projections for demand and supply, the impact of coronavirus in each luxury residential property markets around the world and the government measures announced, but it noted that unprecedented uncertainty made the forecasts challenging.
They expect a slight rebound in most markets in 2021, with forecast growth above 5%, led by London and Lisbon. “In Lisbon, Portugal’s handling of the crisis combined with strengthening demand and limited prime supply will underpin price growth,” Kate Everett-Allen, head of international residential research at Knight Frank, said in the report.
Given this, we can say that forecasts for Lisbon are strongly positive, with the city still representing a good destiny for luxury real estate investments and a great market to profit from those assets, especially through rentals.