Activity led by foreign private investors in the Lisbon residential market continues to be buoyant in 2025, with the first half of the year showing momentum in line with that seen in the same period last year, according to the latest data from Confidencial Imobiliário (Ci).
According to Ci, in the first six months of the year, 730 homes were purchased by private buyers from 52 countries in Lisbon's Urban Rehabilitation Area (ARU), which covers virtually the entire city, excluding the parishes of Santa Clara, Lumiar and Parque das Nações. Although there were 65 fewer transactions than in the same period last year, the €465.2 million transacted was 3% above the figure recorded a year earlier. In terms of average investment, foreigners invested €635,5005 per transaction in the first half of this year, 9% more than the €583,300 invested in the same period in 2024.
In the first half of 2025, 52 nationalities were identified among active foreign private buyers, six fewer than the 58 recorded a year ago. Among these, Americans led international purchases, with 130 properties acquired worth €113.6 million, representing 18% of transactions and 24% of the amount invested by non-residents in the period under review. Brazilians came in second place, with 80 transactions totalling €52.2 million, corresponding to 11% of the volume in terms of both number of homes and capital invested. They are followed by the French, also with 80 purchase transactions, worth €48.6 million, which translates into 11% of purchases and 10% of foreign investment.
The parishes of Estrela and Arroios, both with around 90 transactions, equivalent to 12% of total purchases by foreigners, were the most sought after by the international market. In terms of capital volume, Estrela once again led the way with €82.7 million (18% of the total), followed by Santo António, which attracted €71 million (15%).
Looking at the Lisbon ARU residential market as a whole, foreigners accounted for 24% of transactions and 32% of investment. Foreign buyers accounted for 76% of purchases – 2,350 properties – totalling €996.9 million, with an average ticket price of €424,400, 50% below that of international investors.
During the first six months of 2025, a total of 3,080 residential property purchases by private individuals were recorded, amounting to a total of €1.462 billion.