The house prices in the Portuguese capital, Lisbon City have increased by 5.6 % during this year. The Portuguese capital has higher prices than some of the other European capitals.

House Prices In Lisbon Rises

A recent report has stated that the prices of luxury houses have increased in Lisbon, Portugal. Lisbon has a higher average price than some of the other capitals around the world like Madrid, Dublin, Zurich, and Seoul. The Portuguese capital is still attracting many tourists due to the beauty of the city. Along with these tourists, a lot of investors are interested in buying property within Lisbon.

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Lisbon has taken the 11^th spot in the list which ranks every capital according to the house prices. These rankings are done after evaluating the prices that rose in the capitals of different countries within the first nine months of the year. This report is published by the real estate agency, Knight Frank, which has been in partnership with Quintela e Penalva since the year 2021.

Report Published By Knight Frank

The report published by Knight Frank states a list of capitals that were ranked according to their house prices. A total of 44 cities were monitored for the study of the report. 29 cities out of 44 showed an increase in prices of prime residential property compared to last year. The list of rankings was generated by comparing the prices of the houses for the first 9 months of the year 2024. Lisbon city is one of the capitals in the list where the property value for residential homes is increasing. A statement in the report read:

House prices in the Portuguese capital rose 5.6%, and are ahead of capitals such as Madrid, Seoul, Dublin, Zurich, Sydney, Monaco or Geneva.

The first place in the list is taken by Manila, the capital of the Philippines. It showed a substantial increase in house values as compared to last year. Manila City marked an increase of 4.6 % growth for the past 3 months. This makes a 29.2% increase per year. The increase in house values is due to the growth in the economy of the country and the demand for more houses by customers.

Report generated by Knight Frank states that the prices around the whole world have slowed in the last 3 months. This also includes Lisbon where the growth was recorded to go down from 5.6 % (for 12 months) to 1.6 % during the last 3 months.

Market Remains Attractive For Foreign Investment

The founding partner of the Quintela/Penalva (partner of Knight Frank in Portugal), Francisco Quintela believes that the market is still ready for foreign investment. The local market is waiting for any foreign investments. The economic stability of the country is a good sign for foreign investment. The company is launching some products that might attract both local and foreign investments. The global director of research at Knight Frank, Liam Bailey states:

[The global price growth] reflects the need for additional stimulus through further interest rate cuts before prices can strengthen again. We believe that the wave of cuts expected for 2025 will support greater growth in house prices in the medium term.

Complete List Of Cities For Increased Luxury House Values

1. Manila, Philippines: 29.2% 
2. Dubai, UAE: 16.9% 
3. Tokyo, Japan: 12.8% 
4. Mumbai, India: 11.5% 
5. Los Angeles, USA: 7.9% 
6. Miami, USA: 7.1% 
7. Nairobi, Kenya: 6.9% 
8. Singapore, Singapore: 6.9% 
9. Delhi, India: 6.5% 
10. Perth, Australia: 5.8% 
11. Lisbon, Portugal: 5.6% 
12. Madrid, Spain: 5.5% 
13. Bengaluru, India: 4.8% 
14. Seoul, South Korea: 4.6% 
15. Dublin, Ireland: 4.5% 
16. San Francisco, USA: 4.4% 
17. Zurich, Switzerland: 4.4% 
18. Bangkok, Thailand: 3.1% 
19. Sydney, Australia: 2.2% 
20. Monaco: 2.2% 
21. Bucharest, Romania: 2.1% 
22. Geneva, Switzerland: 2.0% 
23. Brisbane, Australia: 1.6% 
24. Paris, France: 1.6% 
25. Christchurch, New Zealand: 1.4% 
26. Stockholm, Sweden: 0.6% 
27. Taipei, Taiwan: 0.3% 
28. Melbourne, Australia: 0.2% 
29. Jakarta, Indonesia: 0.1% 
30. Kuala Lumpur, Malaysia: -0.2% 
31. Shenzhen, China: -0.2% 
32. Auckland, New Zealand: -0.5% 
33. New York, USA: -0.5% 
34. Berlin, Germany: -0.9% 
35. Vancouver, Canada: -1.1% 

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