In the last three months of 2023, 57% of the world cities showed growth in luxury home prices in the main urban markets, according to recent reports.
In terms of 12-month growth in luxury residential markets, Lisbon (4.7%) is in the top 10 of the fastest-growing luxury residential markets, which continues to be led by Dubai (48.8%). Dubai maintained its top position in the rankings for the eighth consecutive quarter - prices risen 225% since reaching a low in the third quarter of 2020.
Tokyo (26.2%) and Manila (19.9%) occupy the second and third positions, respectively, in the annual growth table. Miami, Shanghai, Mumbai, Madrid and Nairobi also precede Lisbon.
The luxury market is a relatively new market in Portugal, but with massive demand mainly, by investment from foreign clients, and also by Portuguese. Therefore, high potential expectations for the luxury residential market to continue growing in the coming years.