Lisbon Housing Prices Rise 18.2% in 2025 and Exceed €5,000/M² for the First Time
Lisbon's residential market recorded a historic 18.2% increase in 2025, exceeding €5,000/m² with a total of 9,600 transactions and strong 62% growth in new home permits.
INTERESTING ARCHITECTURE TRENDS
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WHY ARE THESE TRENDS COMING BACK AGAIN?
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WHAT TRENDS DO WE EXPECT TO START GROWING IN THE COMING FUTURE?
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WHY IS IMPORTANT TO STAY UP TO DATE WITH THE ARCHITECTURE TRENDS?
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WHAT IS YOUR NEW FAVORITE ARCHITECTURE TREND?
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Real Estate History
Housing prices in Lisbon rose by 18.2% in 2025, marking the largest increase since 2017, when they grew by 20.9%. This development also represents a reversal of the trend of recent years, characterized by a slowdown in market appreciation.
Following the post-pandemic recovery, a period when prices went from a 3.0% increase in 2020 to 11.7% in 2021, Lisbon recorded progressively more moderate annual increases, culminating in a 5.5% appreciation in 2024.
The sharp increase observed in 2025 was also reflected in the transaction values across the city. For the first time, the average selling price surpassed the €5,000/m2 threshold, reaching €5,207/m2. This level is exceeded in about half of the city's parishes, led by Santo António (€6,646/m2), Avenidas Novas (€6,588/m2), and Campo de Ourique (€6,021/m2). At the opposite end, Santa Clara remains the capital's most affordable parish, with an average price of €3,882/m2, and is also the only one with average values below €4,000/m2.
Sales increased by 11.8%
In 2025, 9,600 housing sales were completed in Lisbon, representing an 11.8% increase compared to 2024. Lumiar (9% of the city's sales), Arroios, and Benfica (7% shares each) were the parishes with the highest transaction volume in the capital in 2025, but the most significant growth was recorded in Beato, Parque das Nações, and Campolide, all with increases exceeding 40% compared to the previous year.
New Housing Pipeline Grew by 62%
In 2025, licensing applications were registered for 4,250 new homes in Lisbon. This volume represents a 62% increase compared to the 2024 pipeline, recovering activity levels similar to those observed in 2018 and 2019, when the local pipeline was around 4,200 to 4,400 units. Of the total units projected in 2025, 77% are part of new construction projects and 23% are rehabilitation projects. The construction of larger developments is one of the trends in new promotions in Lisbon, which accounts for 10 of the 39 projects with over 100 apartments projected in Portugal last year. These 10 projects total 1,510 units, equivalent to 35% of the residential supply projected for the city in 2025. Two of these 10 developments have 250 apartments, while the others range from 110 to 180 units.
