SUNNY, SCENIC LISBON
Located on the southwestern coast of Europe, Portugal’s capital city enjoys a privileged geo-strategic situation: Lisbon is just a short flight – between 1 to 3 hours – from most European cities, and is just seven hours from New York, being the closest European capital to North America.
The city lies in the centre of the country. It offers a wide variety of options to the visitor, including beaches, countryside, mountains and areas of historical interest less than an hour away from the city centre, and at the centre of a unique triangle – the resort of Cascais, the romantic village of Sintra, and the World Heritage Arrabida Natural Park.
Lisbon is Europe’s sunniest capital with over 220 days of sun per year, enjoying a pleasant climate throughout the year. The agreeable temperatures and sunshine are almost always a constant feature.
Lisbon is without doubt also one of the world’s most scenic cities. The river, the light, its seven hills, and its friendly citizens, all conspire to make Lisbon a unique experience. A friendly and tolerant city by tradition, Lisbon is considered by the UN to be the safest European capital.
A city of innovation, Lisbon is ranked amongst the Top 10 European cities with the greatest future potential by the authoritative Financial Times magazine. The city also has strong environmental commitment, with 64% of its electricity needs coming from renewable sources!
Lisbon is amongst the most competitive cities for international events. Last year (2018) proved the best year ever for national tourism: 10,18 million foreign visitors, a rise of ten percent on the previous year.
There is a shortage of residential accommodation in Lisbon – particularly in the short-term serviced apartment and longer-term rental market categories.
The demand for rental accommodation is underpinned by a growing expat community on fixed period work assignments, short-term business travellers, the buoyant tourism market and the desire of people to live in the city and avoid the traffic frustrations associated with daily commuting.
The authoritative PricewaterhouseCoopers report on European real estate for 2019 makes the following assessment:
‘With some of Europe’s major markets judged to be peaking, attention is shifting to smaller, dynamic cities: It’s not just about investing in London, Paris, Frankfurt and Amsterdam. There can be a whole second tier of cities that win on a number of different measures.
‘Lisbon is this year’s choice for overall prospects. Interviewees cite the city’s “quality of life” and “positive leadership”.
‘Portugal’s economy is growing at a healthy clip, and its capital is now an international destination for companies, investors and tourists. It’s on everyone’s platter of cities they like.’
Emerging Trends in Real Estate, Europe 2019