Gentrification is the word.. Hall a million euros for an apartment in Lisbon? No Portuguese could ever EVER afford that. Not on a 740 euros salary a month. That apartment ten years ago would cost you not even 100.000 euros, and it would still be expensive. You are being robbed and everyone is robbing foreigners. And while foreigners can afford this stupidity of prices, the Portuguese are going out on the streets trying to find a place to live in their own country.
Sadly, we are now part of the air con and elevator buyer group. Ten years ago we might have been able to get away with a building without these features. Not interested in Camp de Ourique, at least :-D. We've been to Oeiras and did like the historical center quite a bit.
Prices will never go down again to the pre-troika. Also, prices didn’t really raise much. Here is the thing I discovered - if you are willing to go for an apartment without elevator, you’ll find it even in the older neighborhoods. If you decide to forego Campo de Ourique and sao bento till Avenida (areas that are being conquered by the French and generally expats) and perhaps explore Oeiras, Alges, Sao Vicente de Fora, and even Beato and Marvila you can find things that are not appealing to the “air con + elevator + swimming pool” buyers
Gentrification is the word.. Hall a million euros for an apartment in Lisbon? No Portuguese could ever EVER afford that. Not on a 740 euros salary a month. That apartment ten years ago would cost you not even 100.000 euros, and it would still be expensive. You are being robbed and everyone is robbing foreigners. And while foreigners can afford this stupidity of prices, the Portuguese are going out on the streets trying to find a place to live in their own country.
Thanks for the update. Can’t wait to see what you guys decide to do!
I am really looking forward to reading future installments about this process and the eventual outcome.
Sadly, we are now part of the air con and elevator buyer group. Ten years ago we might have been able to get away with a building without these features. Not interested in Camp de Ourique, at least :-D. We've been to Oeiras and did like the historical center quite a bit.
Prices will never go down again to the pre-troika. Also, prices didn’t really raise much. Here is the thing I discovered - if you are willing to go for an apartment without elevator, you’ll find it even in the older neighborhoods. If you decide to forego Campo de Ourique and sao bento till Avenida (areas that are being conquered by the French and generally expats) and perhaps explore Oeiras, Alges, Sao Vicente de Fora, and even Beato and Marvila you can find things that are not appealing to the “air con + elevator + swimming pool” buyers