Buying or renting a house in Lisbon is becoming increasingly expensive. And according to data from Casafari, the Portuguese capital even ranks second in the Southern European ranking of rental properties.
As the real estate data platform explains in its housing market report for the first quarter of 2023, Lisbon – which records an average value of 23 euros per square meter (m2) – is ahead of Paris, with 41 euros / m2. With values equal to the Portuguese capital, only Milan is found, while Barcelona has an average of 22 euros and Madrid 17 euros per square meter.
Likewise, and in terms of sales, the average sales price per m2 in Lisbon is currently 5,149 euros. Again only surpassed by 12,707 euros from Paris. Milan (4969 euros), Barcelona (4120 euros) and Madrid (4062 euros) are the other most expensive cities in southern Europe.
The data collected compares the first quarter of this year not only with the same period of the previous year, but also with the 4th quarter of 2022.
Sale
According to Casafari, prices in Lisbon, Milan, Barcelona and Madrid have increased by an average of 5.2% compared to the first quarter of last year. During this period, only Paris experienced a fall in value of 0.3%. Compared to the last three months of 2022, we see an overall price increase of 1.1%.
If we look only at Lisbon and compare the first quarter of 2023 with the same period last year, the largest increase in the average price per square meter was registered there, with +9.8%. Compared to the last three months of last year, the increase was 3.4%.
The supply of owner-occupied homes has shrunk in the first months of 2023, namely by -0.2% compared to the same period last year. Barcelona (-16.6%) and Madrid (-11.6%) were the cities that contributed most to this scenario.
Compared to the last quarter of 2022, this is a trend that continues in Paris at -13.2%. Milan and Lisbon, on the other hand, increased their supply of properties for sale by 5.8% and 1.3% respectively.
rent
After analyzing these five cities, Casafari concludes that the average price per m2 has increased by 18.3% compared to the same period last year and by 1% compared to the last months of last year.
Once again, the Portuguese capital is the city that shows the largest increases: with 5.4% more compared to the last quarter of 2022 and +40.2% compared to the first three months of last year.
In the opposite direction is Madrid which, despite an increase of 6.4% compared to the same period of the previous year, registered a decrease of 6.7% in this quarter compared to the previous one.
According to the same platform, there was a 38.1% decrease in the supply of rental properties compared to the same period in 2022. “Milan (-51.3%), Lisbon (-47.2%) and Madrid (-26%) are the cities that have contributed most to this scenario,” said Casafari.
And compared to the last quarter of 2022, the total decline is 4.2%. “Paris was negative with a decline of -28%. Barcelona (+8.9%) and Lisbon (+3.99%) are bucking the trend,” the company reports.
Mónica Costa is a journalist for Dinheiro Vivo.
Source: DN
