Apartment house in the city center, Lisbon, Portugal

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Apartment house in the city center, Lisbon, Portugal

13,500,000 €
3,970 € /m²
£11,534,000
£3,392 /m²
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  • Total area
    3,400 m²

Apartment house.

Description

Apartment house, in need of repair, with pre-project of reorganization into an apart-hotel. Additional information on request.

Location and nearby infrastructure

Lisbon is the capital and largest port of Portugal, the oldest city in Western Europe with the warmest winters among all European metropolises.

  • The Portuguese economy is developing steadily. According to PwC, the country's GDP by the fourth quarter of 2017 increased by 2.4%. Experts predicted that in 2018, GDP growth will be 2.1%, and in 2019 – 1.7%.
  • The unemployment rate is noticeably reduced: in January 2017, one could talk about 10.1%, and in January 2018 — already at 7.9%.
  • The growth in housing prices in 2017–2018 amounted to 23%. According to the Portuguese State Institute of Statistics (INE), sales of residential real estate grew by 19% in Portugal and by 22% in Lisbon for I-III quarters in 2017–2018.
  • The average return on long-term rental apartments in Lisbon is 5%. Short-term rental is more profitable. At the same time, the services of management companies are much cheaper than in other countries (5–10% of the rental price versus 20–25%.

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