Upcoming Neighborhoods in Lisbon: Places with Affordable Housing Prices (But Not for Long)
Lisbon has long been one of Europe’s most attractive cities for expats, investors, and locals. With its vibrant culture, picturesque streets, and growing international community, Lisbon offers a unique quality of life. As demand for housing increases, specific neighborhoods have become highly sought after, with prices rising steadily in popular areas like Chiado, Baixa, and Príncipe Real.
However, for those looking for more affordable options, there are still a few up-and-coming neighborhoods in Lisbon where you can find lower prices — but not for long. These areas are becoming increasingly popular due to their proximity to the city center, improved infrastructure, and modern developments. If you're considering a move to Lisbon or a property investment, now may be the time to act before prices catch up with the city's more established districts.
Here’s a look at some of Lisbon’s upcoming neighborhoods where you can still find affordable housing prices — but be quick because they’re not likely to stay that way for long!
1. Marvila: Lisbon's Hip Industrial Revival
Marvila, located between the city center and Parque das Nações, was once an industrial district, home to warehouses and factories. Today, it’s emerging as one of Lisbon’s coolest, most up-and-coming neighborhoods, thanks to a wave of gentrification and creative energy. It’s becoming a hotspot for artists, entrepreneurs, and young professionals drawn to its industrial charm and relatively affordable real estate.
Why is Marvila Up-and-Coming?
- Creative Vibe: Marvila is home to art galleries, craft breweries, co-working spaces, and trendy cafes. It’s Lisbon’s answer to Berlin’s Kreuzberg or London’s Shoreditch.
- New Developments: Recent urban regeneration projects have led to the conversion of old warehouses into stylish lofts and modern apartments.
- Affordable Property: Marvila still offers relatively affordable housing options compared to more central neighborhoods, but prices rise quickly as interest grows.
Current Price Range: Apartments in Marvila start at around €3,000 per square meter, but prices are increasing steadily as more people discover the area’s potential.
2. Beato: The New Creative Hub
Just east of Marvila is Beato, another former industrial area experiencing a cultural and residential transformation. It’s known for the Beato Creative Hub, a significant innovation center attracting startups, tech companies, and artists. Like Marvila, Beato benefits from urban regeneration efforts, making it a hotspot for investors looking for affordable properties with long-term potential.
Why is Beato Growing?
- Tech and Startups: Beato Creative Hub is positioning the neighborhood as a center for innovation and entrepreneurship, attracting professionals from the tech industry.
- Proximity to Central Lisbon: Beato is just a short drive or bike ride from the city center, making it convenient for those who want to live in a quieter area without sacrificing access to the main attractions of Lisbon.
- Warehouse Conversions: Like Marvila, Beato offers a mix of old industrial buildings converted into modern apartments and workspaces.
Current Price Range: Properties in Beato are still relatively affordable, starting at around €2,800 per square meter, but with rising interest, prices are expected to climb.
3. Penha de França: Authentic and Affordable
Penha de França is a residential neighborhood still under the radar for many expats and investors, but it’s quickly gaining attention due to its affordability and central location. Positioned just north of the trendy areas of Graça and Anjos, Penha de França offers a quieter, more local vibe while still being close to the action.
Why is Penha de França an Attractive Option?
- Central Location: Penha de França is within walking distance of some of Lisbon’s most popular neighborhoods, like Alfama and Graça, without the high price tags.
- Local Atmosphere: The area is less touristy and more residential, offering an authentic Portuguese experience with local cafes, markets, and parks.
- Affordable Housing: While prices rise, Penha de França remains one of Lisbon's most affordable central neighborhoods, making it an excellent option for first-time buyers or investors.
Current Price Range: Apartments in Penha de França start at around €3,000 to €3,500 per square meter, but prices rise as the area becomes more desirable.
4. Ajuda: Historic Charm Meets Modern Development
Ajuda is one of Lisbon’s oldest neighborhoods, located west of the city center near Belém. Historically known for its palaces and gardens, Ajuda is undergoing a renaissance, with new residential developments and infrastructure improvements making it a more attractive place to live.
Why is Ajuda a Rising Star?
- Historical Significance: Ajuda is home to some of Lisbon’s most important landmarks, including the Ajuda National Palace and the Tapada da Ajuda botanical garden.
- New Developments: In recent years, Ajuda has seen a surge of new residential projects, offering modern apartments at more affordable prices than nearby areas like Belém or Alcântara.
- Upgraded Infrastructure: Improved public transportation links and new amenities make Ajuda more accessible and appealing to a younger crowd.
Current Price Range: Ajuda remains one of Lisbon’s more affordable historic districts, with prices around €2,500 to €3,200 per square meter, but it’s expected to rise as development continues.
5. Campolide: Convenient and Affordable
Campolide is a residential area located just west of Lisbon’s city center, near the bustling regions of Amoreiras and Sete Rios. Traditionally a working-class neighborhood, Campolide is seeing increased interest due to its convenient location and affordability.
Why is Campolide Becoming Popular?
- Close to Central Lisbon: Campolide is just a short distance from Lisbon’s central business district, making it an attractive option for professionals who want affordable housing near the city center.
- Modern Developments: The neighborhood has seen new residential buildings and infrastructure improvements, including better transport links.
- Affordable Prices: Compared to nearby areas like Amoreiras or Avenidas Novas, Campolide offers more affordable housing, making it a good option for those on a budget.
Current Price Range: Prices in Campolide start at around €2,800 to €3,500 per square meter, but this could increase as more buyers look for affordable alternatives to the pricier central neighborhoods.
6. Alcântara: The Riverside Renaissance
Alcântara, located along the Tagus River, has long been known for its docks and industrial character. However, it’s undergoing a significant transformation, with new developments, trendy restaurants, and a growing creative community. This neighborhood is quickly becoming one of Lisbon's most desirable places.
Why is Alcântara in Demand?
- Riverside Living: Alcântara offers beautiful river views and easy access to the waterfront, making it an attractive option for those who love being near the water.
- LX Factory: The neighborhood is home to the famous LX Factory, a creative hub filled with art galleries, cafes, and coworking spaces that attract young professionals and artists.
- New Developments: Alcântara is seeing a wave of modern residential developments, offering stylish apartments and lofts at competitive prices.
Current Price Range: Alcântara is still more affordable than nearby riverside neighborhoods, with prices ranging from around €3,200 to €4,000 per square meter. However, this is expected to rise as more developments are completed.
Act Fast on Lisbon's Hidden Gems
As Lisbon continues to grow in popularity, many of its up-and-coming neighborhoods are seeing rapid development and rising property values. Areas like Marvila, Beato, and Penha de França are still affordable compared to the more established neighborhoods, but the window for getting a good deal is closing quickly. With new infrastructure, cultural hubs, and residential projects popping up, these neighborhoods won’t remain affordable for long.
If you're considering investing in property in Lisbon, now is the time to explore these rising stars before they join the ranks of the city's pricier districts. Whether you're looking for a creative hub, a quiet residential area, or riverside living, Lisbon’s upcoming neighborhoods offer many opportunities for those willing to act quickly.
