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Príncipe Real

Príncipe Real

Considered by Lisboetas to be amongst Lisbon’s loveliest neighbourhoods, Príncipe Real is named in homage to Queen Maria II’s firstborn “Royal Prince”. Calm and elegant, this neighbourhood offers a more peaceful alternative to Bairro Alto, its charmingly boisterous neighbour. Set on the pinnacle of one of Lisbon’s seven hills, Príncipe Real slopes up from one of the city’s best view-points, São Pedro de Alcântara, where artisanal market-stalls selling fresh lemonade draw young families, while gentrified residents soak up the views in the shade of the olive trees. The colourful, elegant mansions of this residential district are connected by a patch-work of noble squares, with century-old trees, tranquil ponds and flashes of spectacular views over the city and glittering Tagus River.

In recent years, this charismatic district has evolved into one of Lisbon’s trendiest areas to buy property. Like many of Lisbon’s trendiest neighbourhoods, Príncipe Real’s evolution has been driven by the renovation of historic buildings into new residential developments, attracting a young, trendy crowd. The lovable juxtaposition of tranquil squares and leafy plazas with a vibrant social and economic scene has turned it into one of the most sought-after areas to live in town. Once only known for its whimsical antique shops and gay bars, it’s now considered one of the city’s hippest spots for shopping. In 2013, a crumbling 19th century romantic mansion on Praça do Príncipe Real was reborn as the “Conceptual Shopping Gallery” Embaixada, while down the road you can find Entre Tanto, a converted 18th century mansion turned into a concept store, divided into trendy spaces dedicated to design shops, fashion and cuisine.

Lisbon

Lisbon is complex and unique and until recently wasn’t seen as the obvious choice for a property investment, but in the past few years, it has seen a dramatic increase in popularity. Paris, London, Berlin, Rome are all cities that have a clear identity and cultural offering. Often thought of as the San Francisco of Europe, Lisbon is undergoing a major change.

Portugal’s capital is filled with winding, hilly streets. The architecture perfectly harmonises the old with the new. In addition, Lisbon is attracting young creative talent and because of this fact it is starting to stand out as a city of design. The relaxed ambience is perfect for young artists looking to live a bohemian life. Small independent boutiques are popping up around the city. Lisbon also still manages to provide the ideal environment for an older crowd wanting to enjoy the sun and the sea alongside a city life.

The buildings are bright and colourful and speak to the heritage of the culture. The café scene is very much thriving with young entrepreneurs opening new restaurants and cafés, adding great culinary value to the city. The energy is unpretentious, relaxed and vibrant. It is uncomplicated and certainly one of the most interesting European capitals to invest in at the moment.

The Property Market in Lisbon

Having come out of economic struggle in 2010, the real estate market in Portugal has seen a consistent rise. The price of property for sale in Lisbon increased by 4.9% between 2017 and 2018. Portugal and Lisbon alike have excellent housing markets, which generally tend to offer good value for money. Because of this, Portugal has the highest owner-occupation rate, with nearly 70% of the population owning their homes.

Unlike many European capitals that have become nearly unaffordable, Lisbon allows individuals to buy a house in central and prime locations, making an ideal property investment. A large proportion of foreign investors are French and Scandinavian, who have made Lisbon their second home. They, along with others, benefit from the low taxes and low-cost of living in the city.

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