Lisbon appears in 28th position, registering an annual growth of 1.8%, ahead of cities such as Paris, Vienna, Geneva, London, New York, or the principality of Monaco.

“On a quarterly basis, price growth also showed signs of strengthening, with an increase of 1.1% in the first quarter of 2024, above the 0.3% growth in the last quarter of last year”, says the Knight Frank report.

Considering the 44 markets analysed, the consultancy highlights that 78% are registering annual price growth, while 19% are showing declines.

“The pace of price declines has slowed down: if a year ago, in the first quarter of 2023, nine markets registered annual price drops of more than 5%, in the first quarter of this year only one market, Frankfurt, shows similar behaviour (- 6.9%)”, it also reads.

At the top of the table is Manila, with 26.2% annual growth. Tokyo follows with 12.5% and Mumbai with 11.5% in second and third position, respectively. Completing the top 5 are the cities of Perth (11.1%) and Delhi (10.5%).

Lisbon is the 28th market with the highest price growth in luxury housing. For Francisco Quintela, CEO of Quintela e Penalva, Knight Frank's partner in Portugal, since 2021l, “this data shows that the national market has been very resilient and continues to be in the sights of international investors, which is very positive for the sector and for the dynamics of the national economy”.