Belém and Parque das Nações Lead as Lisbon's Most Expensive Parishes, Averaging Over €1 Million
A recent statistical analysis of Lisbon's property market has identified Belém as the city's most expensive parish, with the average asking price for a property reaching 1.1 million euros. The data, released by the real estate portal Imovirtual and covering the last quarter of the year, places the modern waterfront district of Parque das Nações in second place, with an average price of one million euros. These figures highlight the continued strength of the luxury real estate segment in the Portuguese capital.
The report provides a detailed breakdown of property values across Lisbon's parishes, revealing a top tier of highly-valued neighborhoods. Following Belém and Parque das Nações, the top five is completed by Areeiro, where the average price is listed at €850,000, the traditionally upscale parish of Estrela at €840,000, and the central Avenidas Novas district, with an average of €835,000. The data underscores a market characterized by high demand in prime, well-located areas that offer a combination of historical charm, modern amenities, and quality of life.
The analysis from Imovirtual also sheds light on the significant price variations within the city. In stark contrast to the high-end market, the report identifies several parishes with considerably lower average property values. The parish of Ajuda, located next to the top-ranking Belém, has an average price of just €290,000. Similarly, the eastern parishes of Beato and Santa Clara show average prices of €329,900 and €352,000, respectively. This wide gap in pricing between neighboring areas illustrates the fragmented nature of the Lisbon market and points to potential opportunities in up-and-coming districts.
Need Expert Guidance?
Get personalized insights from verified real estate professionals, lawyers, architects, and more.
A dominant trend confirmed by the study is the prevalence of apartments in the city's housing supply. In many parishes, including the more affordable Ajuda and Beato as well as the premium Parque das Nações, the market is composed almost entirely of apartments. This reflects the urban typology of Lisbon and the focus of new construction on multi-family residential buildings.
The report also emphasizes the role of new construction in shaping the market, particularly in parishes undergoing significant urban development. In Lumiar, with an average price of €797,000, and the rapidly transforming Marvila, at €680,000, new-build properties account for more than 75% of all listings on the Imovirtual platform. Sylvia Bozzo, Marketing Manager for Imovirtual, commented on the findings, stating, "The data shows that Lisbon combines luxury zones, like Belém and Parque das Nações, with neighborhoods that have lower average values, though still high for the majority of Portuguese. At the same time, new construction has been gaining weight in parishes like Lumiar and Marvila, which are responding to the dynamism of the capital's market." This highlights a dual market dynamic: the consolidation of value in established prime areas and the expansion and modernization of emerging districts.
Stay informed on Lisbon property market developments at realestate-lisbon.com.