On one of the new cycle lines is an area of central Lisbon that’s quickly becoming the city’s new investment hotspot. Conveniently located between Avenida da Liberdade, Lisbon’s brand-filled arterial spine and 10 minutes’ walk from touristic Baixa, Intendente has property prices that are substantially cheaper than the better-known areas just around it.
“At around €4,000 per square metre, Intendente offers serious value for money in an area that neighbours Lisbon’s more famous districts, where prices for similar properties easily reach up to €8,000 to €9,000 per square metre,” comments Lloyd Hughes, Communications Director at Athena Advisers.
“It’s becoming popular with the younger crowd, creatives and artists, which is feeding the long and short-term rental markets. New hotels are opening up as well, but there is still significant room for price growth, very much in line with what central Lisbon as a whole has seen over the past few years.”
Lisbon as a city is emerging as one of the most popular tourist and property investment locations in Europe, with wealthy investors drawn to its new quality housing stock, affordable prices and flexible investment immigration policies. Old period buildings are being carefully regenerated across the city to a standard synonymous with an increasingly demanding international tourism market. According to Confedencial Imobiliaro, an independent property price statistic organisation based in Lisbon, property prices in Lisbon are up by over 40% in the historic centre since 2014.
Data from Airbnb and Athena Advisers shows that property occupancy rates are high. Overall, the highest annual revenue generated through renting a home on Airbnb reached €52,452 for a two-bedroom apartment and €77,096 for a four-bedroom apartment. Rental yields for properties in Lisbon are around at 5-6%.
Set to complete in December 2018, prices for the apartments at Largo 57 range from €260,000 – €560,000.
For further information, visit: www.athenaadvisers.com