Living
Foreigners Spend Twice the Money on a Lisbon Home Than Locals
- Portuguese capital attracts scores of international buyers
- Competition threatens to push locals out of the city center
To try to regulate demand, Portugal’s government began restricting its so-called golden visa program to property purchases outside Lisbon and the northern city of Oporto.
Photographer: Jose Sarmento Matos/BloombergThis article is for subscribers only.
It seems nothing can stop overseas investors from snapping up prime Portuguese property. In fact, they’re willing to pay more than double for a Lisbon home than domestic buyers.
Foreigners paid a median price of 4,283 euros ($4,599) per square meter of Lisbon property in the three months through December, compared with 1,858 euros for locals, according to the country’s National Statistics Institute.