Lisbon Prices Peak at 6,100 EUR/m2: Is There Still an Opportunity for Vietnamese Investors?
Asking prices in central Lisbon reached a record of around 6,100 EUR/m2 in 2026 while yields compressed to 3.8–5%. An analysis of the opportunity that realistically remains.
Portuguese property has risen almost continuously since 2014, and in 2026 Lisbon is formally at a historic peak: asking prices in the central area are around 6,100 EUR/m2, the citywide median around 5,300 EUR/m2, and prime apartments in Chiado or on Avenida da Liberdade exceed 8,000 EUR/m2. The question for Vietnamese investors: does entering at this point still make sense?
What is supporting prices?
New construction is very limited relative to demand, while demand from international professionals, digital nomads and returning nationals persists. Several districts still record double-digit growth. This is not purely speculative fever — but price levels are high relative to local incomes, which means expectations of short-term price growth need to be held with considerable caution.
The cash-flow question: yields are compressing
- Lisbon averages 3.8–5% gross; high-priced central districts compress to 3–4%.
- Porto and the surrounding areas can reach 5–6.5% — a better balance between entry price and cash flow.
- Rental income tax for non-residents: 28% (with a reduction mechanism for long-term contracts).
- Short-term rental licences (Alojamento Local) are being tightened in Lisbon and Porto — check the rules in each district before buying with Airbnb in mind.
The most important point to remember
Buying property in Portugal no longer creates a residence right: the real estate route under the Golden Visa closed in October 2023. Be cautious with advertising that bundles “property purchase + Golden Visa”. Buyers need a NIF tax number; banks commonly lend non-residents 60–70% of value (LTV).
The strategy VNIS recommends: long-let apartments in the regeneration districts of Lisbon and Porto, with the case assessed on net yield. See the full picture at Portuguese Property or request a consultation.
The information in this article is for reference at the time of writing. It is not legal advice and no outcome is promised — immigration policy, tax rules and market conditions can change. For an assessment based on your family's specific circumstances, please request a consultation with the VNIS Investment team.