Authored by the expert who managed and guided the team behind the Portugal Property Pack
Yes, the analysis of Lisbon's property market is included in our pack
Lisbon remains one of Portugal's most expensive cities to buy property, with prices varying dramatically from one parish to another.
We constantly update this blog post with the latest housing price data for Lisbon, so you always have access to current figures.
In this article, we break down median prices, neighborhood comparisons, and what you can realistically expect to pay in 2026.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Lisbon.
Insights
- The gap between what sellers ask and what buyers actually pay in Lisbon is only about 8%, which is relatively tight for a European capital with high demand.
- Santo António parish commands nearly double the price per square meter compared to Santa Clara, showing how much location matters within Lisbon's city limits.
- Over the past decade, Lisbon housing prices have risen roughly 120% in nominal terms, but only about 80% when you account for inflation.
- New-build properties in Lisbon carry a premium of around 15% to 25% over existing homes, mainly because of energy efficiency features and modern amenities.
- About 75% of the Lisbon housing market consists of apartments, with townhouses and villas making up a much smaller share of available properties.
- Entry-level buyers in Lisbon should budget at least €170,000 to €250,000, typically for a small studio or one-bedroom in outer parishes like Santa Clara.
- When you factor in IMT transfer tax, stamp duty, and legal fees, expect to add 7% to 10% on top of the purchase price in Lisbon.
- Lisbon asking prices rose about 4% year-over-year from January 2025 to January 2026, but only around 2% in real terms after adjusting for inflation.
What is the average housing price in Lisbon in 2026?
The median housing price is more useful than the average because it reflects what a typical buyer actually pays, without being skewed upward by Lisbon's high-end luxury properties.
We are writing this as of the first half of 2026, using the latest data collected from authoritative sources like Statistics Portugal (INE) and idealista, which we manually verified for accuracy.
The median housing price in Lisbon in 2026 is approximately €397,000 ($468,000) for a typical 90 square meter apartment based on transaction data. The average housing price runs higher at around €470,000 ($554,000), reflecting the influence of luxury properties in central Lisbon parishes.
For 80% of residential properties in Lisbon in 2026, you can expect prices to range from roughly €250,000 to €850,000 ($295,000 to $1,000,000) based on closed transactions.
A realistic entry range in Lisbon starts at €170,000 to €250,000 ($200,000 to $295,000), which typically gets you a small studio or one-bedroom apartment of about 45 square meters in parishes like Santa Clara or Beato.
Luxury properties in Lisbon in 2026 typically range from €1,500,000 to €5,000,000 or more ($1,770,000 to $5,900,000+), and at this level you can find prime penthouses of 200 square meters in Santo António or large renovated apartments in Estrela.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Lisbon.
Are Lisbon property listing prices close to the actual sale price in 2026?
In Lisbon in 2026, listing prices are estimated to be about 8% higher than actual sale prices on average.
This relatively small gap exists because demand remains strong and supply is constrained in central Lisbon, giving sellers pricing power. The difference varies most for overpriced properties or those needing renovation, where buyers can often negotiate 10% to 12% off the asking price, while well-priced homes in good condition typically see only 4% to 7% negotiation.
Get fresh and reliable information about the market in Lisbon
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
What is the price per sq m or per sq ft for properties in Lisbon in 2026?
As of early 2026, the median sold price in Lisbon is approximately €4,400 per square meter ($5,200/m² or €410/$483 per square foot), while the median asking price is around €5,950 per square meter ($7,000/m² or €553/$652 per square foot). The average prices run about 10% to 15% higher due to luxury properties pulling the figures upward.
Smaller apartments in prime central locations have the highest price per square meter in Lisbon, while larger units in outer parishes or those needing renovation have the lowest, mainly because central walkability and turnkey condition command significant premiums.
In Lisbon in 2026, the highest prices per square meter are found in Santo António parish at around €6,800 to €8,200 per square meter, while the lowest are in Santa Clara at approximately €3,500 to €4,200 per square meter.
How have property prices evolved in Lisbon?
Compared to January 2025, Lisbon asking prices have increased by about 4% in nominal terms, or roughly 2% after adjusting for inflation. This growth is driven by limited housing supply in central parishes and continued strong demand from both domestic and international buyers.
Looking back two years to January 2024, the cumulative price increase in Lisbon has been more significant, as the market recovered from post-pandemic uncertainty and interest rate stabilization brought buyers back. Bank appraisal values tracked by INE showed accelerating momentum through late 2025, confirming that prices have been on a sustained upward trend.
By the way, we've written a blog article detailing the latest updates on property price variations in Lisbon.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market in Lisbon.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Portugal versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
How do prices vary by housing type in Lisbon in 2026?
In Lisbon in 2026, apartments make up about 75% of the market, followed by townhouses and small houses at around 12%, newer condominium-style apartments at 6%, penthouses at 4%, and villas at roughly 3%, reflecting the city's dense urban character and limited land for detached homes.
Average prices by property type in Lisbon as of the first half of 2026 are approximately: standard apartments at €600,000 ($707,000), newer premium apartments at €850,000 ($1,000,000), townhouses at €900,000 ($1,060,000), penthouses at €1,600,000 ($1,890,000), and villas at €2,000,000 ($2,360,000). Renovation projects typically sell at a discount, averaging around €400,000 ($472,000) depending on condition and location.
If you want to know more, you should read our dedicated analyses:
How do property prices compare between existing and new homes in Lisbon in 2026?
New-build properties in Lisbon in 2026 typically cost about 15% to 25% more than comparable existing homes, with a central estimate of around 20%.
This premium exists because new construction in Lisbon includes features that are expensive to retrofit into older buildings, such as modern energy efficiency ratings, elevators, underground parking, and better insulation, plus new supply is scarce in central areas where demand is highest.
Buying real estate in Lisbon can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
How do property prices vary by neighborhood in Lisbon in 2026?
Parque das Nações is popular with families and expats looking for modern apartments near the waterfront. Here you will find mostly newer construction with good amenities, and prices range from €500,000 to €630,000 ($589,000 to $742,000) for a typical apartment, reflecting the area's newer building stock and convenient transport links.
Estrela attracts expats and professionals who want classic Lisbon architecture in a central location. The neighborhood offers elegant older buildings and renovated apartments, with prices typically between €500,000 and €620,000 ($589,000 to $731,000), driven by its prime positioning and charming streets.
Santa Clara offers the most affordable entry point within Lisbon city limits. You will find mostly older apartments that may need some updating, with prices ranging from €280,000 to €340,000 ($330,000 to $401,000), making it attractive for buyers who prioritize budget over central location.
You will find a much more detailed analysis by areas in our property pack about Lisbon. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Character | Avg Price Range (80m² apt) | Avg Price/m² | Avg Price/ft² |
|---|---|---|---|---|
| Santa Clara | Value / space | €280k-€340k ($330k-$401k) | €3,500-€4,200 ($4,130-$4,950) | €325-€390 ($383-$460) |
| Beato | Value + upside | €360k-€440k ($425k-$519k) | €4,450-€5,250 ($5,245-$6,190) | €413-€488 ($487-$575) |
| Olivais | Family / airport | €350k-€430k ($413k-$507k) | €4,300-€5,050 ($5,070-$5,955) | €399-€469 ($470-$553) |
| Lumiar | Family / parks | €370k-€460k ($436k-$542k) | €4,550-€5,300 ($5,365-$6,250) | €423-€492 ($499-$580) |
| Benfica | Family / value | €400k-€490k ($472k-$578k) | €4,900-€5,750 ($5,775-$6,780) | €455-€534 ($537-$630) |
| Alvalade | Classic / schools | €430k-€520k ($507k-$613k) | €5,300-€6,250 ($6,250-$7,370) | €492-€581 ($580-$685) |
| Arroios | Central / lively | €400k-€500k ($472k-$589k) | €4,950-€6,000 ($5,835-$7,075) | €460-€558 ($542-$658) |
| Areeiro | Commute / calm | €410k-€510k ($484k-$601k) | €5,000-€6,150 ($5,895-$7,250) | €465-€571 ($548-$673) |
| Campo de Ourique | Prime / village feel | €480k-€590k ($566k-$696k) | €6,000-€7,000 ($7,075-$8,250) | €558-€650 ($658-$766) |
| Estrela | Prime / expat | €500k-€620k ($589k-$731k) | €6,250-€7,350 ($7,370-$8,665) | €581-€683 ($685-$805) |
| Parque das Nações | New / family expat | €500k-€630k ($589k-$742k) | €6,250-€7,500 ($7,370-$8,840) | €581-€697 ($685-$821) |
| Santo António | Top prime | €550k-€700k ($648k-$825k) | €6,800-€8,200 ($8,015-$9,665) | €632-€762 ($745-$898) |
How much more do you pay for properties in Lisbon when you include renovation work, taxes, and fees?
In Lisbon in 2026, you should expect to pay an additional 7% to 10% on top of the purchase price for taxes and closing costs, plus potentially 0% to 25% more if you plan to renovate the property.
If you buy a property in Lisbon for around $200,000 (approximately €170,000), you would pay roughly €2,400 in stamp duty (0.8%), €8,000 to €12,000 in IMT transfer tax, and €1,500 to €3,000 in notary and legal fees. That brings your total to approximately €182,000 to €187,000 ($214,500 to $220,500) before any renovation costs.
For a property purchased at $500,000 (approximately €424,000), the stamp duty would be around €3,400, IMT would range from €25,000 to €32,000, and notary and legal fees would add €2,000 to €4,000. Your all-in cost before renovation would be approximately €455,000 to €464,000 ($536,000 to $547,000).
At $1,000,000 (approximately €848,000), expect stamp duty of about €6,800, IMT of €55,000 to €68,000, and legal and notary costs of €2,500 to €5,000. This puts your total purchase cost at roughly €912,000 to €928,000 ($1,075,000 to $1,094,000) before renovation.
By the way, we keep updated a blog article detailing the property taxes and fees to factor in the total buying cost in Lisbon.
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Lisbon
| Expense | Type | Estimated Cost Range |
|---|---|---|
| IMT (Property Transfer Tax) | Tax | Ranges from about 4% to 8%+ of the purchase price, depending on whether it is your primary residence and which tax bracket applies. For a €400,000 home used as a primary residence, expect roughly €25,000 to €35,000. Higher-value properties face steeper rates. |
| Stamp Duty (Imposto do Selo) | Tax | Fixed at 0.8% of the purchase price for property transactions. For a €400,000 property, this equals €3,200 ($3,770). If you take out a mortgage, additional stamp duty of 0.6% applies to the loan amount. |
| Notary Fees | Closing | Typically €400 to €1,000 ($470 to $1,180) depending on complexity. These cover the official deed signing and registration of the sale with the notary public. |
| Land Registry | Closing | Usually €400 to €800 ($470 to $940) to register the property transfer. This is a fixed administrative cost that does not scale significantly with property value. |
| Legal Fees | Professional | Expect €1,000 to €3,500 ($1,180 to $4,125) for a lawyer to handle due diligence, contract review, and closing. Complex transactions or higher-value properties typically cost more. |
| Light Renovation | Renovation | Around €600 to €1,000 per square meter ($707 to $1,180/m²) for cosmetic updates like painting, new flooring, and kitchen or bathroom refreshes. For an 80m² apartment, budget €48,000 to €80,000. |
| Full Renovation | Renovation | Approximately €1,200 to €2,000+ per square meter ($1,415 to $2,360+/m²) for structural work, new electrical and plumbing, and full modernization. An 80m² gut renovation could cost €96,000 to €160,000 or more. |
We made this infographic to show you how property prices in Portugal compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What properties can you buy in Lisbon in 2026 with different budgets?
With $100,000 (approximately €85,000), there is essentially no standard market in Lisbon city proper as this budget falls below the entry threshold for even the smallest apartments, and you would need to look at auction properties with legal complications or move outside the city limits entirely.
With $200,000 (approximately €170,000), you could buy a small studio or one-bedroom apartment of about 35 to 45 square meters in Santa Clara, Beato, or Olivais, typically an existing home that may need some cosmetic updating.
With $300,000 (approximately €255,000), you could find a one-bedroom apartment of about 50 square meters in Santa Clara, Olivais, or Beato, either in good existing condition or a slightly larger unit that needs minor renovation work.
With $500,000 (approximately €424,000), you could purchase a two-bedroom apartment of about 80 square meters in central neighborhoods like Arroios, Alvalade, or Benfica, typically existing construction in decent condition with good access to transport.
With $1,000,000 (approximately €848,000), you could buy a three-bedroom apartment of about 120 square meters in prime areas like Avenidas Novas or Estrela, either renovated existing stock or a new-build family apartment in Parque das Nações.
With $2,000,000 (approximately €1,700,000), you enter the luxury segment and could purchase a 200 square meter penthouse in Santo António, a large renovated apartment in Campo de Ourique, or a high-end new-build in Estrela or Avenidas Novas with premium finishes.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Lisbon.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Lisbon, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| Statistics Portugal (INE) | Portugal's official national statistics agency responsible for all government economic data. | We used INE transaction data to establish median sold prices per square meter in Lisbon. We also referenced their inflation figures to calculate real price changes over time. |
| idealista | Portugal's largest real estate portal with a published methodology and long-running price index. | We used idealista's asking price data by parish to map neighborhood price variations. We also used their reports to track year-over-year price changes and market trends. |
| European Central Bank (ECB) | The official source for euro foreign exchange reference rates used by financial institutions. | We used the ECB's late-December 2025 EUR/USD rate for all currency conversions. We applied the same rate consistently throughout the article for internal coherence. |
| Portal das Finanças | Portugal's official tax authority website with current IMT tables and tax regulations. | We referenced official IMT tax brackets to calculate transfer tax estimates. We used their published rates to build the tax cost examples at different price points. |
| GEE (Ministry of Economy) | Government economic office that publishes analysis of INE indicators including bank appraisals. | We used their reporting on INE bank appraisal surveys to verify price momentum. We cross-referenced their data to confirm late-2025 market direction. |
| FRED (Federal Reserve Economic Data) | Maintained by the St. Louis Fed with international property price indices from the BIS. | We used their Portugal residential property price series for long-term comparison. We referenced this data to estimate the 10-year price change in Lisbon. |
| idealista News | Editorial arm of idealista that publishes analysis based on INE and internal data. | We used their reporting on INE parish-level transaction prices as a benchmark. We cross-referenced their articles to verify median sold prices in Lisbon. |
| INE Consumer Prices Theme | Official inflation data used for economic policy and international comparisons. | We used Portugal's HICP/CPI data to inflation-adjust price comparisons. We applied these figures to convert nominal growth into real growth estimates. |
| INE Housing Theme | Dedicated housing statistics portal from Portugal's official statistics agency. | We referenced housing indicators to verify price momentum across the market. We used this data to support estimates of new-build premiums. |
| idealista Price Reports | Regular published reports with transparent methodology on asking prices by location. | We used their November 2025 Lisbon report and projected forward to January 2026. We extracted parish-level data to build the neighborhood comparison table. |
| INE Bank Appraisal Survey | Official survey using bank valuation data tied to mortgage applications. | We used appraisal values as a second price benchmark independent of listings. We triangulated this data to estimate the asking-to-sold price gap. |
| Local real estate agents | On-the-ground professionals with current market knowledge. | We consulted agent feedback to validate renovation cost estimates. We used their input to confirm typical negotiation ranges in different market segments. |
| Portuguese notary fee schedules | Official fee structures published by notary associations. | We referenced these to estimate closing costs for property transactions. We used typical ranges to build the additional expenses table. |
| Construction cost surveys | Industry data on current contractor and material pricing in Lisbon. | We used these surveys to estimate light and full renovation costs per square meter. We applied these figures to calculate total renovation budgets. |
| Eurostat | EU's official statistics agency with harmonized housing price indices. | We referenced Eurostat data to verify Portugal's position in European price trends. We used this for context on long-term market performance. |
| Banco de Portugal | Portugal's central bank with financial stability reports covering housing. | We consulted their reports on mortgage lending and housing market conditions. We used this data to understand demand dynamics in the market. |
| Property listing analysis | Direct review of current listings across multiple portals. | We analyzed active listings to verify price ranges by property type and neighborhood. We used this to create realistic examples at each budget level. |
| IMT tax calculator tools | Online tools based on official tax authority formulas. | We used these calculators to verify IMT estimates at different price points. We cross-checked results against official published tables. |
| Legal fee market surveys | Compilations of typical lawyer fees for property transactions in Portugal. | We used these surveys to estimate legal due diligence costs. We applied typical ranges based on transaction complexity. |
| Parish demographic data | Official statistics on population and housing stock by Lisbon parish. | We used this to understand the character of different neighborhoods. We referenced demographic patterns when describing each area's appeal. |
| Expat community forums | First-hand accounts from international buyers who purchased in Lisbon. | We consulted these to identify which neighborhoods are popular with expats. We used this qualitative input to select representative areas. |
| Historical price databases | Long-term records of Lisbon property prices from multiple sources. | We used historical data to calculate the 10-year price change estimate. We cross-referenced multiple sources to ensure accuracy. |
| Currency conversion records | Historical EUR/USD exchange rates from official sources. | We tracked exchange rate movements to select an appropriate conversion rate. We applied this consistently across all dollar figures in the article. |
Get the full checklist for your due diligence in Lisbon
Don't repeat the same mistakes others have made before you. Make sure everything is in order before signing your sales contract.