The Príncipe Real area in Lisbon has long been preferred by the LGBTI+ community to live. Even so, there are other places to stand out on the map of the most sought-after inclusive neighborhoods to buy or rent a house in Greater Lisbon – the trend was accentuated in the pandemic and is here to stay. The axis of Avenida Almirante Reis is one of them, but not the only one. Attention is also focused on Lisbon’s South Bank, namely Almada and Caparica. After all, how much does it cost to buy or rent a house in the most LGBTI+ friendly neighborhoods? And what are the effects of the pandemic on market trends and price evolution? Idealista/news was looking for answers, within the scope of Pride Lisboa 2022.
Príncipe Real, the most inclusive neighborhood in the country
João Passos, responsible for the LisboaPride – Homes for Everyone project, and a real estate consultant at Remax for several years, confirms in an interview with Idealista/news that Príncipe Real, located in the parish of Misericórdia, continues to be an inclusive area par excellence, not least because “many of the main and most iconic businesses” frequented by the community continue to be located in this area. The consultant, also president of Variações, highlights the centrality, with easy access, but also the “tranquility, multiculturalism and proximity to areas such as Chiado, Bairro Alto, and Baixa de Lisboa”. Despite this, and in recent years, the trend has slowed down, “as a result of the growing real estate speculation that has made prices in this area unaffordable, at least for the national LGBTI+ community”, he points out.
Data from Idealista/data show that the parish of Misericórdia remains one of the most expensive in Lisbon to live in, despite a cooling of prices in the buying and selling market between 2020 and 2021, in the middle of the pandemic.
“Over the past year, both the sell buy and sell and lease markets have seen prices rise. In addition, this is a parish that has registered a strong demand from the market. It should be noted that only between 2020 and 2021 did this indicator fall, and only in the rental market (-9%). In terms of supply, only in the last year, there was a drop in volume with -40% in the purchase and sale market and 80% in the rental market”, according to the analysis of Idealista/data specialists.
Analyzing the most inclusive areas, and given the geographical proximity to the parish of Misericórdia, João Passos also highlights the parish of Santo António, which is also one of the most expensive to buy or rent. According to Idealista/data, prices in this Lisbon parish have increased in the last four years, but at a slower pace. In four years, prices for the buy and sell market have increased by around 12%. In the rental market, the rise was 13%.
“The relative demand in this parish shows a generally increasing trend of the indicator with relevance for the period between 2020 and 2021 in the purchase and sale market (+130%) and for the period between 2022 and 2021 in the rental market (+358%). In this parish of Lisbon, there was also a drop in the volume of supply in the last year, -25% in the purchase and sale market and -59% in the rental market”, indicated by the data specialists of Idealista.
Avenida Almirante Reis, an area on the rise
Although Príncipe Real continues to be an LGBTI+ area par excellence, there are other areas/neighborhoods growing and attracting the community. Avenida Almirante Reis, especially the Arroios area, is a good example.
“Lower prices, the opening of new LGBTI+ friendly businesses, good transport, and a more irreverent spirit have put Intendente, Bairro das Colónias and even Penha de França on the map of the most sought after places by LGBTI+ people to live”, he explains.
In the parish of Arroios, as shown by data from Idealista/data, prices in the buy and sell market tended to increase. The only exception was in the period between 2020 and 2021 when the unit price practically remained stable and the global price fell by 9%.
“In the rental market, and from a total market perspective, we see that prices have only increased in the last year. In terms of relative demand, we can see that the parish presents a lot of dynamism in the buying and selling market. In the rental market, only in the last year, there was a notable growth of the indicator, above 300%. As for the available stock, in both markets there was a drop in the last year, -37% in the purchase and sale market and -59% in the rental market”, indicates the analysis of Idealista/data specialists.
Although with some nuances, the behavior in the parish of Penha de França was similar to the price level. Idealista/data highlights “a clear cooling off in the period between 2020 and 2021, certainly justified by the pandemic”. In terms of demand, the data show a positive variation of this indicator over the last four years in the buying and selling market. In the rental market, in recent years, there has been a decline, with the exception of the last year, as happened in the parish of Arroios.
Lisbon’s South Bank, the new LGBTI+ destination?
Last year, João Passos had already identified Lisbon’s South Bank as a destination of special interest for the LGBTI+ community, and the trend continues. A short distance from Lisbon, Almada and Caparica are emerging areas, characterized by their proximity to beaches.
“The dream of having a house in the countryside or on the beach is increasingly becoming a reality, both by nationals and foreigners, motivated by the search for a certain return to their origins and a more sustainable lifestyle, supported by new work possibilities. remote”, explains the real estate consultant.
In the Union of Parishes of Trafaria and Caparica, for example, in the buying and selling market, the market price trend has been increasing in recent years. In the rental market, and despite some cooling off between 2020 and 2021, there has also been an increase in prices in practically all types in recent years.
“The apparent slight drop in the unit price of -7% and in the overall price of -12% in the last year for the total residential market was due to negative price variations in the T0 typology for which the sample is not representative. These numbers underscore the importance of analyzing the available market information in detail, especially in the rental market where supply is scarce”, stresses the Idealista/data team.
In União das Freguesias de Almada, Cova da Piedade, Pragal and Cacilhas, and with the exception of slight price drops between 2020 and 2021, it is possible to say that, from a total market perspective, the trend of the last four years was for a general increase in prices. This growth was more noticeable in the purchase and sale market than in the rental market. In the last year, for example, global prices for the residential market have increased by 18%.
In this parish, relative demand fell in both markets (sale and rental) between 2019 and 2020. The trend of this indicator continued in the following period in the rental market (-47%), recovering in the last year. In the buying and selling market, in the last year, demand has slowed down (-3%). Regarding the supply indicator, it is important to mention the drop in available stock in the last year in both markets: -38% in the purchase and sale market and -45.5% in the rental market.
João Passos considers that the appetite for all these areas remains and even believes that it has a tendency to increase. “Whether in more urban centers, for a more national and younger community, or by the beaches, for a more international and more adult segment, with a view to reform or investment”, he concludes.