Housing prices surge in the capital
Housing prices in Lisbon recorded strong growth in 2025, with an annual increase of 18.2%. This is the largest rise since 2017, when the capital’s residential market registered an increase of 20.9%.
This growth represents a reversal of the trend of recent years, which had been marked by a gradual slowdown in price appreciation. After the post-pandemic recovery, when prices moved from a 3.0% increase in 2020 to 11.7% in 2021, the market began to slow down. In 2024, the annual rise in housing prices in Lisbon had been 5.5%, far below the level recorded in the past year.
Average price surpasses €5,000 per square metre
The appreciation of housing in Lisbon was also directly reflected in transaction values. For the first time, the average sale price in the city exceeded the threshold of €5,000 per square metre, reaching €5,207/m².
In several parishes of the capital, housing prices in Lisbon significantly exceed this average value. Santo António leads with around €6,646/m², followed by Avenidas Novas with €6,588/m² and Campo de Ourique with €6,021/m².
At the opposite end, Santa Clara remains the most affordable parish in the capital to buy a home, with an average price of €3,882/m², being the only area of the city with values below €4,000/m².
Number of housing sales increases in 2025
The dynamism of the market was also reflected in the number of transactions. In 2025, around 9,600 housing sales were completed in Lisbon, representing an increase of 11.8% compared with the previous year.
Among the parishes with the highest sales volumes are Lumiar, responsible for 9% of transactions, and Arroios and Benfica, with 7% each. The largest increases in the number of sales were recorded in Beato, Parque das Nações and Campolide, all with rises of more than 40% compared with 2024.
Licensing of new residential projects increases
New residential development also gained momentum in the capital. In 2025, applications were submitted for the licensing of around 4,250 new homes in Lisbon, an increase of 62% compared with the previous year.
This growth brings activity levels close again to those recorded before the pandemic, when the volume of projects ranged between 4,200 and 4,400 housing units per year. Of the total planned for 2025, around 77% corresponds to new construction projects and 23% to rehabilitation operations.
There has also been an increase in larger developments. Of the projects with more than 100 units currently in licensing across the country, ten are located in Lisbon, totalling around 1,510 apartments and representing 35% of the new residential supply planned for the city. Some of these developments even exceed 250 units, highlighting the growing scale of real estate development in the capital.
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