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Lisboa · report

New homes in Lisboa

73.3% more homes were licensed for construction in the last 12 months than in an average year of the past decade.

Licensed, 12 months
1,170
Per 1,000 residents
1.8

Homes licensed for construction in Lisboa

Dwellings in new buildings licensed over the previous 12 months, at each month.

  • Lisboa
  • Ten-year average
Show the numbers
PeriodLisboa
Aug 20261,170
Jul 20261,190
Jun 20261,227
May 20261,177
Apr 20261,179
Mar 20261,017
Feb 20261,039
Jan 20261,066
Dec 20251,170
Nov 20251,148
Oct 2025807
Sep 2025798
Aug 2025794
Jul 2025800
Jun 2025876
May 2025816
Apr 2025854
Mar 2025797
Feb 2025775
Jan 2025728
Dec 2024576
Nov 2024562
Oct 2024680
Sep 2024663
Aug 2024739
Jul 2024794
Jun 2024691
May 2024744
Apr 2024669
Mar 2024702
Feb 2024660
Jan 2024701
Dec 2023820
Nov 2023962
Oct 2023956
Sep 20231,066
Aug 20231,034
Jul 2023936
Jun 2023930
May 2023863
Apr 2023846
Mar 2023788
Feb 2023843
Jan 2023876
Dec 2022739
Nov 2022605
Oct 2022469
Sep 2022308
Aug 2022370
Jul 2022429
Jun 2022463
May 2022454
Apr 2022451
Mar 2022797
Feb 2022711
Jan 2022637
Dec 2021684
Nov 2021706
Oct 2021773
Jul 2021684
Apr 20211,009
Jan 2021718
Oct 2020691
Sep 2020880
Aug 2020972
Jul 2020894
Jun 20201,103
May 20201,081
Apr 2020960
Mar 2020960
Feb 20201,125
Jan 20201,039
Dec 2019970
Nov 2019986
Oct 20191,022
Sep 2019846
Aug 2019759
Jul 2019793
Jun 2019599
May 2019569
Apr 2019497
Mar 2019506
Feb 2019347
Jan 2019346
Dec 2018297
Nov 2018292
Oct 2018256
Sep 2018242
Aug 2018290
Jul 2018260
Jun 2018243
May 2018305
Apr 2018303
Mar 2018301
Feb 2018340
Jan 2018340
Dec 2017412
Nov 2017433
Oct 2017452
Sep 2017451
Aug 2017405
Jul 2017402
Jun 2017402
May 2017317
Apr 2017234
Mar 2017241
Feb 2017215
Jan 2017231
Dec 2016150
Nov 2016118
Oct 2016101
Sep 2016109
Aug 2016100
Jul 201699
Jun 2016103
May 201697
Apr 201696
Mar 201682
Feb 201663
Jan 201656
Dec 201544
Nov 201563
Oct 201576
Sep 201580
Aug 201581
Jul 201582
Jun 201598
May 201599
Apr 201594
Mar 2015124
Feb 2015122
Jan 2015113
Dec 2014101
Nov 201482
Oct 201467
Sep 201455
Aug 201454
Jul 201473
Jun 201491
May 2014106
Apr 2014105
Mar 201474
Feb 201474
Jan 201474
Dec 2013134
Nov 2013138
Oct 2013141
Sep 2013155
Aug 2013182
Jul 2013162
Jun 2013133
May 2013122
Apr 2013132
Mar 2013132
Feb 2013135
Jan 2013148
Dec 201288
Nov 2012110
Oct 2012150
Sep 2012140
Aug 2012131
Jul 2012161
Jun 2012173
May 2012168
Apr 2012205
Mar 2012214
Feb 2012231
Jan 2012218
Dec 2011228
Nov 2011203
Oct 2011192
Sep 2011188
Aug 2011170

Homes finished and licensed each year in Lisboa

Homes completed in new buildings (columns) against homes licensed for construction (line), each year since 2011. INE.

  • Homes finished
  • Homes licensed
Show the numbers
YearHomes finishedHomes licensed
20252191,170
2024149576
2023391820
2022535739
2021660684
2020133812
2019119970
2018140297
201768412
201647150
201511044
2014135101
2013175134
201245688
2011352228
Homes finished per 1,000 residents, 2025
0.3

Who built the homes finished in Lisboa

Who built the homes completed each year, as a share of that year. INE, since 2011.

  • Cooperatives and others
  • Public bodies
  • Private individuals
  • Companies
Show the numbers
YearCompaniesPrivate individualsPublic bodiesCooperatives and othersTotal
202597.7%0.5%0.0%1.8%219
202497.3%2.7%0.0%0.0%149
202398.7%1.3%0.0%0.0%391
202296.1%3.9%0.0%0.0%535
202178.5%3.9%15.2%2.4%660
202095.5%4.5%0.0%0.0%133
201971.4%28.6%0.0%0.0%119
201845.7%54.3%0.0%0.0%140
201772.1%27.9%0.0%0.0%68
201672.3%27.7%0.0%0.0%47
201584.5%15.5%0.0%0.0%110
201454.8%34.1%0.0%11.1%135
201371.4%26.9%1.7%0.0%175
201295.2%4.8%0.0%0.0%456
201179.5%13.6%6.8%0.0%352

Homes finished in Lisboa, by number of bedrooms

Homes completed in new buildings by number of bedrooms, as a share of each year. INE.

  • Four or more
  • Three bedrooms
  • Two bedrooms
  • Studio or one bedroom
Show the numbers
YearStudio or one bedroomTwo bedroomsThree bedroomsFour or moreTotal
202539.7%32.4%19.2%8.7%219
202430.9%33.6%30.2%5.4%149
202338.6%28.1%22.5%10.7%391
202229.3%32.3%26.4%12.0%535
202122.1%36.4%26.8%14.7%660
202019.5%50.4%17.3%12.8%133
201950.4%20.2%21.0%8.4%119
201828.6%24.3%34.3%12.9%140
201720.6%22.1%22.1%35.3%68
201617.0%25.5%27.7%29.8%47
201526.4%41.8%22.7%9.1%110
201417.8%35.6%25.9%20.7%135
201312.0%36.0%36.6%15.4%175
201213.6%32.0%43.2%11.2%456
201117.3%18.2%28.4%36.1%352

A licence is permission to build, not a finished home: most are completed one to three years later, and some never are. INE publishes licensing three months at a time, so four windows make a year.

Other reports for Lisboa

Next 12 months

Asking prices have an 80% chance of landing between €5,893/m² and €6,649/m² by September 2027.

Expected, September 2027
€6,271/m²
Chance of a rise
52%

Affordability

At the bank valuation, a 90 m² home costs €430,110. With 10% down and a 30-year mortgage, the payment is €1,632 a month. Banco de Portugal caps it at 50% of a household's net income.

Payment, two incomes
59%
Payment, one income
119%

Buy or rent

Owning and renting a 90 m² home cost about the same each month. Owning counts interest, running costs and the return the deposit could earn, at the median sale price. Repaying the loan is saving, so it is left out.

Rent per month
€1,569
Owning per month
€1,639

Asking against valuation

Sellers ask 30.9% more than banks value homes at. A year ago the gap was +35.3%.

Gap today
+30.9%
Change in a year
−4.4 pp

Foreign buyers

Over the last 12 months, buyers domiciled abroad paid 28.1% more per m² than buyers living in Portugal.

Abroad against residents
+28.1%

Past cycles

Bank valuations have fallen by 3% or more 3 times since 2011. The deepest began in April 2011.

Deepest fall
−19.8%
Recovery from the low
38 months

People and new homes

In 2025 the population fell by 6,905 while 219 homes were finished.

Homes finished, 2025
219
Population change, 2025
−6,905

Empty homes

14.9% of the 319,640 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.

Empty, 2021 census
14.9%
Empty homes
47,748

Renovation

In 2025, 92% of the buildings finished were work on existing buildings: extensions, alterations and reconstructions.

Work on existing buildings, 2025
92%
Reconstructions per 100 new buildings
0.0

Public housing works

Public bodies signed €45.4M of housing works here in 2025, and €339.7M since 2012.

Signed in 2025
€45.4M
Per resident, 2025
€69

Data: INE, ECB and others · updated October 27, 2026

Asking prices and bank valuations are not sale prices. This is a description of public data, not financial advice.

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