Selling the most expensive apartment in Lisbon and Portugal

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An EU citizen spent 7.350 million euros on the thirteenth floor of the luxury building 203 Castilho in Lisbon, owned and built by a real estate agency specialising in luxury apartments and villas in Portugal. The deal made the penthouse the most expensive apartment ever sold in Portugal.

The Lisbon real estate agency stressed that it does not expect the purchase price of this property to be beaten in the immediate future and therefore the 7.350 million euros is expected to remain a record figure in Portuguese real estate. The location of this building, which has a number of features that are difficult to repeat, is, for example, high up and on the highest hill in Lisbon.

The penthouse in question is a T3 type apartment, with an interior area of 287 square metres. This means that the new owner paid approximately 25,600 euros per square metre for his real estate purchase in Lisbon. The thirteenth floor of the building, located at 203 Castilho Street, also has access to a terrace of 260 square metres, overlooking Eduardo VII Park and Liberdade Avenue.

The price range of the apartments in this area is the most expensive in the Portuguese capital. If the most expensive apartment was sold for 7,350 million euros, the cheapest one (a 140 m2 T2 for example), will have a selling price around 1,360 million, or around 9,700 euros per m2.

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Initially designed for 20 apartments, this luxury Lisbon building offers its tenants various services such as a concierge service, an indoor swimming pool, a spa, a gymnasium on the ground floor and an outdoor swimming pool on the 8th floor, overlooking Lisbon. On the ground floor will be exhibited a work signed by the Portuguese artist José Pedro Croft, who will be the property of the building.

But it is not enough to have your pockets full to buy an apartment at 203 Castilho. Sellers are very selective despite the high demand. The sale is preferred to people who want to buy an apartment to live in and not as a rental investment.

There are still 10 apartments for sale in this luxury building in Lisbon, which according to the builders will be sold by the end of the year.

The buyers have several nationalities, but the majority are :

  • Brazilians
  • Britons
  • From South Africa

Asked about the possibility of having Portuguese buyers for a luxury apartment in this building, the real estate agency answers in the affirmative. Currently, three Portuguese buyers could be among the future happy owners.

If you want to know more about real estate in Portugal, you can visit the page dedicated to the real estate market in Portugal in 2019.

Purchase real estate in Lisbon

If you also wish to make a property purchase in Lisbon, you can use the contact form below and fill in your search criteria. This information will be forwarded to different agencies that speak perfect English and that have been assisting English speakers in their real estate projects in Portugal for more than 10 years.

The agency will accompany you through the various administrative procedures, the market sweep, the organization of the visits it will lead, the finalization of the sale at the notary, the subscription of the home insurance or the opening of the water, gas, electricity and internet accounts. She will be your sole interlocutor and will always keep your interests at the forefront.

By validating the contact form, you authorize me to transmit your request to a english-speaking person who will be able to contact you directly. Nothing is automated: these are people I know, based in Lisbon and who are qualified to accompany you in your approach & your project.

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