Prime market in lisbon real estate

Lisbon’s prime market is changing fast as city’s revival continues

The Portuguese city’s crumbling period residences are being redeveloped to feed demand from western European buyers.

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According to local agents, most buyers are based in western Europe, in particular French, Swiss and Swedish investors, who are buying property in Portugal because of the country’s tax-friendly non-habitual residents (NHR) programme. This offers people who are moving to the country for the first time reduced tax rates or tax exemption for 10 years on certain income. “The NHR scheme is attracting European executives, who are moving here with their families,” says Frédéric Desage-Bonnet, of developer Ran Capital. In his experience, buyers tend to be aged between their late 30s and late 40s. “It’s not the over-65s,” he says. In Lisbon, Ran Capital is redeveloping Sacramento 28 in Chiado, where a three-bedroom apartment is priced, off plan, at €1.85m.

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