One of the most exciting—and sometimes overwhelming—parts of buying property in Lisbon is just how many different types of homes are available. From antique apartments with azulejo-covered walls to glass-wrapped penthouses with rooftop pools, this city doesn’t do cookie-cutter. You may be surprised at the types of property in Lisbon.

Whether you’re relocating, investing, retiring, or simply looking for a lifestyle upgrade, understanding the variety of property options available in Lisbon will help you focus your search and make a smart, satisfying decision.

Let’s walk through the landscape—street by street, style by style—so you know what to expect.  If you are ready to find your perfect property in Lisbon, contact us today.  We’d love to help you make a smooth move to Lisbon.

Lisbon’s Apartments: The Soul of City Living

Apartments—apartamentos in Portuguese—are the backbone of Lisbon’s housing stock. And within that category, there’s more variety than you might expect.

In historic neighborhoods like Alfama, Bairro Alto, Mouraria, Baixa, and Graça, you’ll find older buildings that ooze charm. These homes often feature original tilework, tall ceilings, creaky hardwood floors, and wrought-iron balconies that overlook winding alleyways or the Tagus River. The views can be magical. So can the sunlight. But these properties can come with quirks—like stairs instead of elevators, less insulation, and a need for updates. Still, for many buyers, the soul and story of these homes make up for the inconveniences.

If you want character without the renovation headache, Lisbon has a growing stock of refurbished historic apartments. These beautifully redone homes preserve original details but include modern kitchens, bathrooms, and insulation. Renovated flats in classic buildings—especially in central, walkable locations—are in high demand among expats and long-term investors.

Then there’s the other end of the spectrum: modern apartments. In neighborhoods like Avenidas Novas and Parque das Nações, you’ll find properties with underground parking, elevators, floor-to-ceiling windows, and smart energy systems. These homes are move-in ready, often part of secure condo developments with gyms or pools. They’re practical, polished, and perfect for buyers who value comfort and ease over old-world quirks. Just be prepared to pay a premium for that convenience—especially in buildings with top amenities or a river view.

Townhouses and Villas: More Space, More Privacy

Lisbon isn’t only about apartment living. If you’re looking for more privacy, space, or a true family home, there are some excellent alternatives.

Townhouses (moradias em banda) are often tucked into residential neighborhoods like Campo de Ourique, Estrela, and Lapa. These homes feel like a hidden luxury—multi-story properties with private entrances, rooftop terraces, and sometimes even small gardens. They offer the feel of a single-family home while still keeping you close to cafés, markets, and the best of city life.

Villas (vivendas) are more spacious still. These detached or semi-detached homes are most commonly found in upscale areas like Restelo and Belém—or just outside the city in Cascais, Estoril, or Oeiras. Villas often come with larger lots, lush gardens, swimming pools, and garages. They’re ideal for families or anyone craving outdoor space and a more laid-back, suburban rhythm. Of course, this kind of space and privacy comes with a higher price tag and usually means you’ll want a car for everyday life.

Gated Communities: Privacy and Peace of Mind

For buyers prioritizing security and a sense of community, Lisbon offers a growing number of gated complexes—especially in newer districts like Parque das Nações, Restelo, and some suburban zones.

These private enclaves often include shared gardens, pools, fitness centers, children’s play areas, and 24-hour security. It’s a low-maintenance lifestyle that appeals to busy professionals, families with young kids, and expats relocating from countries where gated living is the norm.

The trade-off? You’ll pay monthly condo fees, and properties may feel more uniform in design. But for many, the peace of mind and convenience more than justify the cost.

New Developments and Off-Plan Opportunities

If the idea of being the first to live in your home excites you, Lisbon has a number of new-build projects and off-plan opportunities—particularly in fast-developing areas like Marvila, parts of Avenidas Novas, and along the eastern edge of Parque das Nações.

These properties are designed with modern lifestyles in mind: open layouts, abundant natural light, energy-efficient systems, and often smart-home features. Many include customization options if you’re buying early enough in the construction process.

The upside to buying new is clear—no renovation headaches, full warranties, and future resale potential. The catch? You might need to wait 12 to 24 months for the project to finish. And because you’re buying “off-plan,” you’ll want to vet the developer carefully to ensure financial stability and construction quality.

Lofts and Penthouses: For the Design-Minded Buyer

Some of Lisbon’s most striking homes are lofts—converted from old warehouses or factories in areas like Marvila and Alcântara. These properties are open-concept, industrial-chic, and often feature high ceilings, exposed beams, and walls of windows. They’re perfect for creatives, remote workers, and anyone who appreciates modern design with an edge.

At the top of the market—literally—you’ll find penthouses. These are top-floor residences in both historic and modern buildings, often with wraparound terraces, unbeatable views, and privacy that feels almost suburban. Whether you’re entertaining guests on a sunset-facing balcony or sipping coffee over the rooftops of Lisbon, penthouses offer that “wow factor” few other properties can.

What Should You Expect When It Comes to Size and Price?

Lisbon is a compact, hilly city—so properties in the historic center tend to be smaller. One- or two-bedroom apartments in the heart of the city typically range from 40 to 80 square meters, while newer or more suburban homes easily stretch to 120–300 square meters or more.

Prices vary widely. A well-located one-bedroom in a historic building might start around €250,000 to €400,000, while a modern luxury flat or villa in Restelo, Cascais, or Parque das Nações can easily exceed €1 million to €2 million, depending on size, view, and finish.

Amenities are equally diverse. Older properties may lack elevators or central heat—but offer prime locations and authentic charm. Newer builds often come with parking, air conditioning, concierge services, and shared leisure facilities.

How to Choose the Right Property for You

The truth is, there’s no single “best” type of property in Lisbon—only the best fit for your lifestyle, your goals, and your budget.

Start by making a clear list of priorities. Do you crave sunlight and terrace space? Do you need proximity to schools or the metro? Are you open to renovations, or do you want turnkey convenience?

Next, be sure to visit neighborhoods in person. A picture can’t tell you how the street feels at night, how close the bakery is, or whether the building next door is under construction.

And finally, ask the hard questions—especially about older buildings. When was the roof last repaired? Are there any planned condo works? What’s the monthly maintenance fee?

These details matter. And they can make all the difference between a smooth transition and a costly surprise.

Ready to Start the Search?

Lisbon offers an extraordinary variety of homes, from character-rich pied-à-terres to modern family villas, from off-plan investments to once-in-a-lifetime penthouses.

Whether you’re seeking charm, convenience, or long-term value, this city has something for you—and I’d love to help you find it.

If you are ready to buy your perfect property, Book a property consultation today and let’s start narrowing in on your ideal Lisbon home.