According to Knight Frank's Prime Global Cities Index (PGCI), the average annual global appreciation was 2.5%, while Lisbon registered 3.1%, thanks to factors such as demand exceeding supply, attractiveness to international buyers, and relative stability compared to the volatility observed in other European capitals.

In a statement, Francisco Quintela, founding partner of Quintela + Penalva, a Knight Frank associate in Portugal, explains that “these data highlight Lisbon’s capacity for growth, investment attraction and resilience” and “also demonstrate that, over the last few years, the city has been consolidating itself as a benchmark destination in the high-quality residential market”.

In continental Europe, cities such as Madrid (+6.1%), Zurich (+5.4%) and Geneva (+4.2%) showed higher appreciation than Lisbon, while Frankfurt matched the Portuguese capital at 3.1%, which surpassed the appreciation of Berlin (2.7%), Dublin (2.3%), Paris (1.4%) and London, the latter with an annual decrease of -3.6%, given the cost of financing and the market's sensitivity to macroeconomic expectations.

In addition to Lisbon, Francisco Quintela is positive about other Portuguese cities: “We believe that prices in Lisbon and other regions of the country, such as Comporta, Cascais-Estoril, or Porto, continue to show potential for appreciation in the coming years. This dynamism results not only from the high quality of new projects under development and the growing demand from national and international investors, who are seeking solid, secure, and sustainable markets.”