Confidencial Imobiliário (CI) revealed that in the first half of 2024, investors completed 3,760 residential property acquisitions in Lisbon, totalling 1.953 billion euros, marking a 29% increase from the 1.51 billion euros invested on average per semester in 2023.
According to the same source, in terms of the number of operations, activity is 20% above the 3,140 transactions recorded per semester during 2023.
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Private Buyers Dominate the Market
Private buyers continue to dominate the market, according to CI, accounting for 76% of both the number of transactions and the amount invested, carrying out 2,865 transactions worth 1.479 billion euros.
Companies account for the remaining 24% of investment in housing in the Lisbon Urban Rehabilitation Area (ARU), with 895 acquisitions worth 474 million euros.
CI released the data this Tuesday, calculated based on the elements of preference rights reported by the Lisbon City Council. Furthermore, they revealed that the Lisbon ARU covers all the parishes in the city except for Santa Clara, Lumiar, and Parque das Nações.
Increase in Corporate Investment and Activity
CI concludes in its analysis that private companies invested 32% more than the 1.117 billion euros accounted for in the first half of 2023. This increased the number of operations by 19%.
On the corporate side, the capital allocated to housing acquisitions increased by 21%, compared to the half-yearly average of 393 million euros in 2023. The volume of transactions also grew by 21% compared to the half-yearly average activity of 740 operations in 2023.
Most Active Parishes in Lisbon’s Property Market
In terms of locations, Avenidas Novas was the parish that benefited the most, registering 340 operations worth 235 million euros, corresponding to shares of 9% and 12%, respectively, of the total activity in the quarter.
Moreover, Estrela was the second most sought-after destination in the city, with 280 home purchase transactions and 196 million euros invested, with shares of 7% and 10%, respectively.
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The two most sought-after parishes recorded an increase in the volume of investment (83% in Avenidas Novas and 30% in Estrela, compared to the half-yearly average of 2023), but it was in São Vicente, Alvalade, and Belém that activity grew the most.
According to CI data, in the parish of São Vicente, part of the historic centre, the amount invested in housing grew by 179% to 102 million euros, guaranteeing a 5% market share. Alvalade increased the amount raised by 129%, to 165 million euros, becoming the parish with the third-largest share (8% of the amount).
This is followed by Belém, which now accounts for 7% of the investment and occupies 4th position, with 138 million euros invested, after an increase of 126% compared to 2023.
