Lisbon’s Hot Housing Market Defies Push to Deter Foreign Buyers
- Home prices in Portuguese capital hit record high in November
- Housing shortages and wealthy foreigners are boosting prices
After Portugal lured wealthy foreigners with investment incentives, the government is having a hard time putting a halt to the buying frenzy that’s propelled housing prices to sky-high levels.
The cost of homes in Lisbon rose 5.8% in November to a record €5,426 ($5,963) per square meter, according to data from Idealista. That’s the second-biggest increase in Europe after Athens, the hottest property market among major European cities tracked by Bloomberg.