“Lisbon and Porto are in the Champions League” of real estate

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The luxury real estate market in Portugal has shown resilience during the pandemic and is expected to continue to do so.

This is the prospect of Quintela + Penalva l Knight Frank, which foresees a “demanding but very promising” year, given the growing qualification of clients looking for Portugal to live or invest.

“Lisbon and Porto continue to offer unique conditions for international clients wishing to invest or live in Portugal,” said Oliver Banks, partner at Knight Frank in international residential developments. According to the manager, “the strong demand that we have seen over the past two years, given the scarcity of supply in the luxury segment, is helping to support prices. Lisbon and Porto are in the Champions League, in the sense that they rival Barcelona, ​​Vienna, Berlin and Dublin in terms of interest from international investors”.

“This trend is expected to continue in 2022 as people continue to focus on quality of life,” adds Oliver Banks.

According to the real estate company, the quality of supply in the luxury residential segment, “although it is becoming scarce in the face of demand”, has been decisive in supporting activity, in particular during the last three months of 2021, not only by international, but also domestic customers. Interest is increasingly focused on projects that combine quality in finishes, durability in construction, space and the offer of services such as concierge/concierge, gym, decoration pack, among others.

According to Francisco Quintela, Partner at Quintela + Penalva l Knight Frank, “Quintela + Penalva l Knight Frank’s development business area delivered a strong performance in 2021, with growth exceeding expectations in the area of ​​new developments, which allows us to face 2022 in an optimistic and more consolidated way in the face of the uncertainty that the market has been experiencing for two years”.

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