Lisbon ranks 10th among cities with the highest house price growth in the past year, showing a 5.3% increase. This places the Portuguese capital ahead of major global cities like Paris, London, and New York.
Lisbon’s luxury real estate market continues to thrive, securing its position among the world’s most sought-after destinations for high-end properties. According to the latest Prime Global Cities Index by international consultancy Knight Frank, Lisbon ranks 10th among global cities with the highest luxury property price growth, surpassing major real estate hubs like Paris, London, New York, and even Monaco.
Over the past year, Lisbon’s luxury housing prices increased by 5.3%, well above the global average of 3.2% recorded in the prime segment. The Portuguese capital’s strong performance underscores its resilience and attractiveness to international investors, further reinforcing its status as a prime real estate destination.
According to 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 the dynamics of the national economy.”
The Prime Global Cities Index analyzed 44 cities, with Seoul leading the rankings, experiencing a staggering 18.4% increase in luxury property prices. It was followed by:
- Manila (+17.9%)
- Dubai (+16.9%)
- Tokyo (+12.7%)
- Nairobi (+8.3%)
A total of 34 cities recorded growth in high-end property values, while only nine experienced slight declines. The report notes that markets in North America, Europe, and Asia-Pacific are stabilizing, showing more consistent and balanced growth rates around the global average of 3.2
Despite economic challenges such as inflation in developed economies, the luxury property market remains optimistic. Liam Bailey, Global Head of Research at Knight Frank, highlights that while interest rate reductions have faced hurdles, further cuts expected in 2025 could fuel another wave of luxury property price growth.
Lisbon’s continued rise as a luxury real estate powerhouse positions it as a key player in the global high-end property market. The city’s growing international appeal and stable appreciation make it an ideal destination for investors and affluent buyers looking for prime real estate opportunit.
