The exclusive coastal community of Cascais, located to the west of Lisbon, remains a premier location for prime property in Portugal. A favoured destination throughout history, attracting royals to wealthy business people and international buyers today, the city has maintained an enduring appeal. Additionally, due to the growth of international tourism, Cascais has positioned itself as a destination for top international events. These events enhance Cascais’s prestige and have been crucial for attracting international prime residential buyers.

Cascais ranks among the most expensive of the Portuguese markets we examined by value. This trend does not appear to be reversing soon, with an average annual growth of 7.5% across all classes of prime residential real estate. Growth reached a peak in 2019, when new build house capital values grew by 41.3% for the year. This price growth can be explained by the rapid increase in new high-quality supply that year, which amounted to a 97% increase over 2018. In 2023, the number of houses sold grew by an average of 27% despite adverse global macroeconomic conditions.

An alternative to the lifestyle of the Algarve, Comporta is located on the western coast and has quickly become a top fashionable location for those looking for nature and exclusivity. Sometimes called Portugal’s best-kept secret for its serene beaches and more relaxed lifestyle, luxury residential projects are adding to the market, attracting a much more international clientele to the area.

In 2023, apartments saw a 9% growth in prices for the year, while villas saw a much more modest rise of 2.2%. This followed a very strong 2022 in which villas saw capital value increases of 22.7%, a result of pent-up demand following pandemic-related lockdowns. With renewed attention in the wake of the pandemic, increasing supply will help temper rapid capital value growth.

_{Read the articles within Savills Spotlight on Portugal report below}