Casa dos Bicos (House of Spikes), Lisbon
According to the Royal Institution of Chartered Surveyors (RICS), buyer interest is waning: in February, 26% of estate agents reported a fall in inquiries from new buyers (in January, only 15% were negative). The number of concluded deals is also decreasing.
The reason – oil and energy are becoming more expensive, and this was happening even before the “hot phase”. Inflationary pressure is increasing, which affects mortgage rates. In some banks, they again exceeded 5%, and credit institutions began to revise and cancel previously approved programs.
House prices are changing unevenly. Thus, the pressure is stronger in London (including the most expensive houses) and in the south-east of the country, while in Scotland and Northern Ireland the market is more stable.
Spain has been positively affected by the conflict
Here they see the situation as follows: the conflict may play into the hands of the premium segment. Geopolitical risks are growing, large investors like security, and Spain may become one of the suitable destinations.
Some investors who have been considering real estate in the Gulf countries may shift their attention to European resorts and major cities. Among the potential beneficiaries are the Balearic Islands, Marbella, Madrid and Barcelona. All these locations cannot yet be called a safe haven for real estate buyers: the authorities regularly impose new restrictions on wealthy foreigners.
Lisbon is the hottest market in Europe
The city became the hottest market in Europe with price growth of 18.2%. All predictions of a slowdown failed: in 2026, Lisbon officially secured its status as one of Europe’s hottest markets. After several years of moderate calm, the Portuguese capital showed a vertical upsurge, breaking through the psychological mark of the cost per square meter.
Lisbon 2026 is a seller’s market, where a shortage of supply meets an aggressive increase in appetite. Despite a 62% increase in the licensing of new homes, this housing will only physically enter the market in 2-3 years, leaving current price levels under intense pressure.
