T H E R E A L - E S T A T E M A R K E T 17
LISBON NEIGHBORHOODS
Belem, Chiado, Avenida da Liberdade, Principe Real, Estrela, Lapa: the most affluent, very central and sought-after residential districts of the Portuguese bourgeois class. They are very pleasant and more valued per square meter. Avenidas Novas: Neighborhood erected at the beginning of the twentieth Century, central and with straight avenues and well organized. This neighborhood enjoys a renewal with the real estate programs of home renovations. The department stores El Corte Ingles have entered a new dynamic by setting up a decade ago. Alfama, Mouraria, Sé: the typical charming districts of the historic center in full revolution and renovations. Well located, formerly abandoned, are very pleasant places to live. They offer good potential for real estate valuation and are the favourite destinations of tourists. Baixa: neighborhood in full renewal thanks to rental investments and hotels. In Lisbon, according to the Sistema de Informacao Residencial da Confidencial Imobiliário, the ranking of the most expensive neighborhoods (freguesias) in 2016 are: 1. Santo António district which includes among others the Amoreiras, Rua Castilho or Avenida da Liberdade. A luxury apartment of 150 sq.m. costs more than one million euros while an apartment on an average range costs about 580 thousand euros. 2. Exceptional goods located on the freguesias (district) of Misericórdia (where there is the Chiado area, Estrela with Santos and Lapa) and Belem can regularly reach €10,000 p/sqm. 3. The Avenidas Novas, where the average square meter reaches €3,588 p/sqm and those of the high segments €6,800 p/sqm. 4. freguesia of Santa Maria Maior (Sé, Castelo, Alfama). This is a recent result due to the dynamic renovation of these neighborhoods in the last 2 years.