Lisbon luxury market to continue to grow

• 8 January, 24

The capital Portuguese appears in the top 10 of the best-performing markets for next year.

The most recent projections from Knight Frank, partner of the Portuguese Quintela e Penalva since 2021, point to an average growth in the price of luxury properties, globally, of 2.4% in 2023 and 2.5% in 2024.

According to the annual assessment by the Knight Frank Research team, the forecast, compared to prices practiced in 2023, registered a significant improvement: with just one month to end the year, the projected value (average price increase of 1.7 %) rose to 2.4%.

Dubai leads the forecasts for 2023, with expected growth of 14%, followed by Madrid (6.5%), Stockholm (5%), Seoul (4.5%) and Miami (4%) – these markets are recovering from recent price drops or experiencing a strong migration of wealth.

If, on the one hand, Dubai is the leader in price forecasts for 2023, on the other, Auckland is at the top in 2024, with a 10% increase in luxury prices. Considering the 25 cities monitored, Dubai comes in third place, with growth of 5%, with Madrid (5%) and Stockholm (4.5%) being the European cities with the best projections. Lisbon is in the top 10, occupying tenth position with a growth forecast of 2.5%.

Cre: Portugalnews