Over the years, Lisbon, the Portuguese Capital, has become a real magnet for expats wanting to find the right balance between work, quality of life, and cost of living. This success story has pushed the price of real estate up. People no longer come to Lisbon to snap a bargain property; instead, they come here to enjoy a unique way of life. As a result, the price of the most expensive neighborhoods in Lisbon is in line with the price of other world-class cities. Securing a penthouse overlooking the city will cost you a few million euros....but where to live in Lisbon?
When thinking of relocating to Portugal, expats are wondering what the best neighborhoods in Lisbon are or even where not to live in Lisbon. The correct answer differs depending on people's profiles and circumstances. The lively parts of town are attracting young nomad workers. They will probably describe Cais do Sodré or Alfama as the coolest part of Lisbon. On the other hand, families with young children will generally say Lapa, Belem, Principe Real, Avienda novas, or Expo are Lisbon's best and more exclusive parts. Selecting the best part of Lisbon depends on your priorities and what is truly important to you. Do you want to be able to walk to the nearest Michelin-star restaurant, or is it your priority to live close to the best international schools in Lisbon? Could Lisbon offer you both? Let's find out! In that article, we will start by presenting the most expensive neighborhoods in Lisbon. We will cover the coolest part of the city and the residential parts suitable for families. Finally, we will find some areas that offer good value for money. We hope that you will know what part of Lisbon is best for you at the end of the article!
What are the best and most expensive neighborhoods in lisbon
Before we start, this content doesn't cover the Lisbon chic suburbs of Estoril, Cascais, or Sintra. Instead, we only cover Lisbon's most expensive, exclusive, and best part within city limits. Of course, all rules have exceptions, but the most costly parts of town are usually the best for real estate. The best areas of Lisbon for residential properties are, without a doubt, Estrella, Principe Real, Avenida Novas, Campo de Ourique, and Expo. Other nearby areas like Chiado and Sao Jorge Castle are hot spots boosting outstanding properties. The areas listed below are great places to live and buy a property in Lisbon.
Where to live in Lisbon:
Estrela
Estrela is in the central part of Lisbon, yet it is far away from the nuisances of mass tourism. The presence of old mansions and palaces that are the legacy of the past of Portugal best characterize the area. Most of these glorious buildings are in Lapa and São Bento areas. In addition to that rich heritage, you can find plenty of beautiful gardens that contribute to the area's high quality of life.
Administratively speaking, the Parish of Estrela was born in 2012 by merging the old Lapa parishes, Sanots-o-Velho and Prazeres. The neighborhood is named after its Basilica. The monument is an outstanding example of baroque architecture. A visit to the rooftop will offer an impressive and highly Instagramable view over the area and the bridge 25 de Avril.
The neighborhood of Estrela is also home to the Lisbon Political district of São Bento. São Bento is the home to the Portuguese Parliament and to the Portuguese Prime Minister's residence. Not far from there, you will find the Fado Diva Amália Rodrigues house.
When it comes to real estate, the area is full of gems. You can find old mansions and properties. You can transform these into world-class trophy homes. Considering the growing demand for high specs real estate in Lisbon, the district of Estrela has much potential for ambitious property investors. To give an idea of the property price in the Lisbon neighborhood of Estrela, a tiny studio will cost at least 120 K euros. The most expensive property in Lapa is a 900m2 palace with a 2000m2 overlooking the river for 10 million euros. The area of Estrela has many impressive mansions in need of renovation. Each one of them could be a world-class trophy home. For that reason, we think the area has much potential for improvement and could be an excellent investment opportunity.
Where to live in Lisbon:
Principe Real
Is Principe Real the coolest neighborhood in Lisbon?
Principe Real (Prince Royal) is, without a doubt, one of the finest parts of Lisbon. Most people looking for a great place to live in Lisbon will probably say that Principe Real is the coolest neighborhood in Lisbon. Over the years, Principe Real has been shaped by class, nobility, and good taste. Today, Principe Real is one of Lisbon's best, most expensive, and most exclusive parts to live, own, or invest in a property. Located on top of a hill dominating the city, Principe Real offers iconic viewpoints. From São Pedro de Alcântara, we can enjoy the panoramic view spreading from Aviendas Novas, Avenida da Liberdade, Restauradores, Castelo de São Jorge, the Tagus River, and beyond. Other parts of Principe Real are also perfect for contemplating the city's western side, the Cristo Rei, and the bridge 25 de Avril. Moving from São Pedro de Alcântara to the beautiful Jardim do Principe Real (Prince Royal Garden), you will see sophisticated shops, bars, and restaurants. Iconic places such as the Pavilhão Chinês (Chinese Pavillon) and, further down the road EmbaiXada ( Embassy) are emblematic of that area. Principe Real is an area where the sophistication is chic intriguing, and balanced. The building is beautiful and mainly built in the neo-classic style. The site is home to iconic buildings, including Ribeiro da Cunha Palace, a beautiful ex-Neo-Moorish building built in 1877. It is today the EmbaiXadavenue.Another point of interest in the area is the Franjinhas Building (1971).
The area of Principe Real is a great place to live in Lisbon as it is beautiful, generally quiet, and there is plenty of things to do. Today in 2023, a studio flat will cost at least 160 K euros. As we write this content, a high-spec T4 of 455 m2 will cost 5 million euros.
Where to live in Lisbon:
Aviendas Novas
Avenida Novas is the place where the Portuguese upper-middle-class lives and works. It is where you can find your typical Portuguese lawyer or doctor. It is one of the best neighborhoods in Lisbon for families. The area starts after Marques Pombal and Park Eduardo VII and goes up to Alvalade, Areeiro, and Campolide.
Avenida Novas is an area with many different identities. The part near Marques Pombal is a busy office. It is minutes away from tranquil and relaxing streets belonging to another era. Despite having separate identities, what unify the area is its architectural harmony and its people. There is no uniformity in Avenidas Novas, but the green and leafy avenues offer much-needed shade during the warmer part of the year. These avenues are home to a mixture of late 19ene century buildings and more recent constructions. Most buildings in the area were erected before the 1960’s. There is a mid-century charm attached to the site of Aviendas Novas. We can see all the details and refinement of Portuguese architecture by going around. It is easy to live in Aviendas Novas as they are supermarkets and underground stations, and it is near the airport. It is straightforward to have a car there and easy to exit the city for trips to the south. Getting to the Vasco de Gama Bridge takes 20 minutes from Campo Pecqueno. The area of Aviendas Novas has excellent schools, including Philippa de Lancaster. The area near Philippa de Lancaster is a fabulous Art Deco architectural unity. There is no shortage of good things to say about Aviendas Novas. To own a property in Avenida Novas, the minimum budget in 2023 will be 180K euros to 4 million euros.
Where to live in Lisbon:
Parque das Nações/ Expo
Parque das Nacoes, also known as Expo, can combine many superlatives. Parque das Nações is one of the best neighborhoods in Lisbon to live in. Parque das Nações is undoubtedly in the top 5 neighborhoods in Lisbon. It is also one of the most exclusive and expensive neighborhoods in Lisbon with, when available for sale, exceptional penthouses. The area was developed as part of the 1998 Universal World Exhibition. Parque das Nações was then the most significant development of its kind in Europe. Today, the legacy of Parque das Nações is an excellent neighborhood of Lisbon structured around the Tagus River. The area has a futuristic dimension with buildings like the Vasco de Gama Tower. Other iconic landmarks of the area include the São Gabriel and São Rafael towers. These twin towers are structuring the creative and intriguing horizon of the Parque das Nacoes.
Finally, the truly extraordinary Oriente Train station will complete the picture. This monumental train station is nothing short of a modern cathedral dedicated to rail travel. Once by the river, we can see the longest European bridge framing the horizon. There is no shortage of superlatives for the neighborhoods of Parque das Nações/ expo. If you move there, you could meet Nicole Kidman, who purchased a property in Expo in 2023. Among the big plus of the area is the proximity to the airport, the train station that links Lisbon to Northern Portugal.
Furthermore, the excellent access to Vasco de Gama leads to the south of Portugal in no time. The area is full of modern flats offering clean and spacious spaces and amazing views of the Tagus River and the Vasco de Gama bridge. The price for a T1 apartment in the area is around 250K euros, and a 360 M2 with an outstanding view of the river, the bridge, and the area of Expo will cost between 4.5 and 5 million euros.
Where to live in Lisbon:
Chiado
Chiado is the epicenter of the Lisbon experience and one of the best neighborhoods in the Portuguese capital. Yet Chiado is not an ideal residential area for many reasons. Some of the streets of Chiado are amongst the busiest in Lisbon. The flow of tourists is constant. The risk of seeing yourself posted on multiple social media platforms is high and permanent. The good news is that you can find some breathtaking properties moments away from the tourist hotspot. The contrast can be radical and very pleasant. Being based in Chiado means you will not need to drive or take public transport daily in Lisbon.
Everything is on your doorstep; some Chiado shops, bars, restaurants, and boutiques are amongst the city's finest. Places like Farmacia or Bario Alto Hotel have outstanding panoramic views over Lisbon. Parts of Chiado are ultra-chic with a solid architectural homogeneity. Superbly renovated neo-classical buildings are the norm in that part of town. Life if Chiado can be good, and there are genuinely outstanding properties in that area. The big issue of Chiado is that it is incredibly central, and coming out of the city by car will always take time. Subject to rush hour, reaching the motorways that are out of Lisbon will be very stressful and somewhat annoying. Getting to the airport from Chiado will also take some time. People who need to travel frequently should opt for less central areas.
Chiado is undoubtedly one of the most beautiful and spectacular parts of town, but as explained earlier, people should be aware of the inconvenience and limitations of the Chiado.
A studio or one-bedroom flat will cost around 220K to 350K euros. Buying a fabulous 600 m2 penthouse will cost approximately 6 milions.
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