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Real Estate in Lisbon, Portugal | Expat Exchange
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Graca in Lisbon

Real Estate in Lisbon

By Betsy Burlingame

Last updated on Aug 05, 2024

Summary: The average cost of a nice 2 bedroom home in Lisbon, Portugal is around €400,000 (approximately $470,000 USD). A nice 3 bedroom home in Lisbon is around €500,000 (approximately $590,000 USD). These properties typically include modern amenities such as air conditioning, central heating, and a fully equipped kitchen. Foreigners are allowed to purchase property in Lisbon, however, they must obtain a Portuguese tax number and register with the Portuguese tax authorities. When searching for a home to buy in Lisbon, an expat should consider their budget, desired location, and the type of property they are looking for. It is also important to research the local market and consult with a real estate agent who is familiar with the area. The most desirable neighborhoods in Lisbon include Alfama, Bairro Alto, Estrela, and Lapa. These areas are known for their vibrant culture, stunning architecture, and close proximity to the city center.

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How do I find a place to live in Lisbon?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"One of the best ways to find a place to live in Lisbon is to use online rental websites such as Idealista, Imovirtual, and Booling. These websites allow you to search for rental properties in Lisbon by location, price, and other criteria. Additionally, you can contact local real estate agents who specialize in rental properties in Lisbon. They can provide you with more information about the rental market in Lisbon and help you find a place that meets your needs. Finally, you can also search for rental properties on social media platforms such as Facebook and Instagram, as many landlords post their rental properties on these platforms," said one expat in Lisbon.

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Portugal Residency AdvisorsPortugal Residency Advisors

Portugal Residency Advisors is a full-service consulting firm dedicated to providing personalized services to individuals and families seeking to relocate to Portugal. With a team of experienced professionals and strategic partnerships, we are well-positioned to assist clients with all aspects of the relocation process.
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Click connect to have our partner contact you via e-mail and/or phone.

What is a typical expat home or apartment like in Lisbon?

"Expat homes and apartments in Lisbon typically feature modern amenities and stylish decor. Many apartments have balconies with views of the city, and some have terraces with outdoor seating. Expat homes and apartments often have high ceilings, hardwood floors, and plenty of natural light. Many apartments are located in the city center, close to restaurants, shops, and other attractions. Expats can also find homes and apartments in the suburbs, which offer more space and a quieter atmosphere," said one person in Lisbon.

Portugal Residency Advisors

Portugal Residency Advisors is a full-service consulting firm dedicated to providing personalized services to individuals and families seeking to relocate to Portugal. With a team of experienced professionals and strategic partnerships, we are well-positioned to assist clients with all aspects of the relocation process.

Learn MoreConnect

Click connect to have our partner contact you via e-mail and/or phone.

Portugal Residency Advisors

Portugal Residency Advisors is a full-service consulting firm dedicated to providing personalized services to individuals and families seeking to relocate to Portugal. With a team of experienced professionals and strategic partnerships, we are well-positioned to assist clients with all aspects of the relocation process.

Learn MoreConnect

Click connect to have our partner contact you via e-mail and/or phone.

What is the average cost of housing in Lisbon?

If you are thinking about moving to Lisbon, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The cost of housing in Lisbon can vary greatly depending on the area and type of accommodation. Generally, the average cost of renting an apartment in Lisbon is around €800 to €1,200 per month, while the average cost of buying a property is around €3,000 to €4,000 per square meter. Prices can be higher or lower depending on the location and amenities," said one expat in Lisbon.

Should I buy or rent a home in Lisbon?

If you have not spent a lot of time in Lisbon, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"Buying a home in Lisbon can be a great investment. The city is known for its vibrant culture, beautiful architecture, and stunning beaches. The cost of living is relatively low compared to other European cities, and the real estate market is booming. Renting a home in Lisbon can also be a great option, as it allows you to experience the city without the commitment of buying a home. You can also take advantage of the city's many short-term rental options, which can be a great way to explore the city without breaking the bank. Ultimately, the decision to buy or rent a home in Lisbon will depend on your individual needs and budget," said one expat in Lisbon.

What do I need to know when buying property in Lisbon?

When we asked expats what advice they would give a foreigner before buying a property in Lisbon, they said:

"1. It is important to research the local market and understand the current trends in the area before making a purchase. 2. It is important to understand the legal requirements for purchasing property in Portugal, including the need for a Portuguese tax number and a Portuguese bank account. 3. It is important to understand the different types of property available in Lisbon, such as apartments, villas, and townhouses. 4. It is important to understand the different types of financing available for purchasing property in Lisbon, such as mortgages, loans, and cash payments. 5. It is important to understand the different taxes and fees associated with purchasing property in Lisbon, such as transfer taxes, registration fees, and notary fees. 6. It is important to understand the different types of insurance available for purchasing property in Lisbon, such as home insurance, liability insurance, and life insurance. 7. It is important to understand the different types of services available for purchasing property in Lisbon, such as real estate agents, lawyers, and financial advisors," said one in Lisbon.

Are foreigners allowed to own property in Lisbon?

When we asked expats what advice they would give a foreigner before buying a property in Lisbon, they said...

"Yes, foreigners are allowed to own property in Lisbon. Non-residents of Portugal are able to purchase property in the country, however they must obtain a tax identification number from the Portuguese Tax Authority in order to do so. Additionally, non-residents must also open a Portuguese bank account in order to make payments for the property. It is important to note that non-residents are subject to the same taxes as Portuguese citizens when purchasing property in Portugal," said one expat in Lisbon.

What appliances are typically included in a rental?

We asked foreigners in Lisbon what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:

"Rental properties in Lisbon typically include a refrigerator, stove, oven, washing machine, and dishwasher. Additionally, some properties may include a microwave, toaster, and coffee maker," explained one person living in Lisbon, Portugal.

Additional Information about Searching for a Home in Lisbon:

We asked foreigners in Lisbon what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...

"Expats can search for homes in Lisbon by looking online for real estate websites that specialize in the Lisbon area. They can also contact local real estate agents who can provide information on available properties. Additionally, expats can search for rental listings on websites such as Airbnb or HomeAway. Finally, expats can also look for homes in Lisbon by attending open houses or visiting local neighborhoods to get a better feel for the area," explained one expat in Lisbon.

About the Author

Betsy Burlingame Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.

Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.

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