The luxury real estate market in Lisbon continues to show signs of resilience and attractiveness. Lisbon ranks 10th among the cities where the prices of high-end homes grew the most last year, with an increase of 5.3%, surpassing metropolises such as Paris, London, New York and even the principality of Monaco. The data comes from the most recent Prime Global Cities Index, from international consultancy firm Knight Frank, which recorded an average global appreciation of 3.2% in the prime segment.

For Francisco Quintela, founding partner of Quintela e Penalva, a Knight Frank partner in Portugal since 2021, “this data shows that the national market has been very resilient and attractive, and continues to be targeted by international investors, which is very positive for the sector and for the dynamics of the national economy.”

At the top of the ranking of the 44 cities analyzed by the Knight Frank report, Seoul stands out as the city with the highest growth, registering an impressive annual appreciation of 18.4%. Manila (17.9%) and Dubai (16.9%) rank second and third, respectively. Tokyo (12.7%) and Nairobi (8.3%) round out the top 5.

Overall, 34 of the 44 cities saw growth in luxury property prices, while only nine saw slight declines. The study highlights that, after years of volatility, markets in North America, Europe and Asia-Pacific are stabilizing, with more balanced growth rates around the global average of 3.2%.

Despite the challenges posed by inflation in developed economies, the luxury real estate sector remains optimistic. Liam Bailey, global head of research at Knight Frank, believes that “the path to lower rates has become more complex in recent months, but with further cuts expected in 2025, this will be a key factor in unlocking further growth in luxury home prices this year.”

Lisbon therefore continues to assert itself as one of the most sought-after luxury real estate markets, consolidating its status as a privileged destination for high-profile investors. In a global scenario that is constantly changing, the capital of Portugal follows the trend of appreciation and remains on the radar of major international buyers.