Cascais Confirmed as Luxury Hub with €15 Million in Property Sales in July
The municipality of Cascais has once again demonstrated its status as a premier destination for luxury real estate, with two significant transactions totaling €15 million completed in the month of July. The sales, managed by The Agency Portugal, involved a villa for €9.5 million and a second property for €5.5 million, confirming a period of intense activity in the high-end market. This volume of sales in such a short period signals strong buyer confidence and a dynamic market environment. The transactions reflect a growing trend of high-value investments in the region, which continues to attract both national and international buyers seeking exclusivity and quality of life. The consistent demand for premium properties keeps Cascais at the forefront of the national real estate scene.
Christopher Kirby-Higgs, a real estate consultant for The Agency Portugal, commented on the recent market behavior, stating, “It is not common to have transactions of this magnitude in a single month, but Cascais is experiencing a moment of spectacular demand.” He further detailed that the search for properties starting at the €3 million price point is particularly strong, while the available housing stock remains limited. This supply-demand imbalance is a key factor driving the market, resulting in faster transaction times and a steady increase in property values. The market's velocity indicates that prospective buyers are acting decisively to secure assets in a competitive landscape, a clear sign of a seller's market for unique and well-positioned homes.
The more valuable of the two properties, which sold for €9.5 million, is a historic residence designed in 1951 by the Pritzker-lauded architect Rui Jervis de Atouguia. The home was fully modernized in 2016, preserving its architectural integrity while updating it for contemporary living. It is situated in a central part of Cascais and offers 600 square meters of living space, including five bedrooms, a heated pool, and an expansive 2,400-square-meter garden. This sale highlights the market's appreciation for properties that combine significant architectural heritage with modern luxury amenities, a niche that continues to command premium prices.
The second property, located in Malveira da Serra, was sold for €5.5 million and is notable for its unique design, featuring a distinctive cedar wood exterior. The estate offers a high degree of privacy and exclusivity, with three integrated dwellings set on a 13,000-square-meter plot of land. The property includes an indoor swimming pool, a sauna, and offers panoramic views over the iconic Guincho coastline. This sale underscores the demand for properties that provide not just luxury, but also seclusion and a close connection to nature, a key draw for buyers in the post-pandemic era. The diversity in these high-value sales showcases the multifaceted appeal of the Cascais real estate market, from urban architectural statements to sprawling natural retreats. Stay informed on Lisbon property market developments at realestate-lisbon.com.
