Welcome, dear readers. My name is Anna Bratyna, and I am a luxury real estate agent at Roca Estate in Cascais. In this article, we will explore the current trends and market forecasts of this prestigious coastal area in Portugal. This information will be useful for both investors and future residents.
Cascais is a blend of comfort and natural beauty, a small town and its namesake municipality located on the Portuguese Riviera, not far from the capital, Lisbon. This area attracts affluent families, offering a quality life with access to beaches, parks, and a robust urban infrastructure. Cascais is considered the ideal place for those who want to combine comfort with a life close to nature.
Living here, it is easy to reach the cultural and business centers of Lisbon, as the journey on the expressway takes 20-25 minutes. Considering the well-developed infrastructure, cultural amenities, and warm climate, Cascais deserves your attention as a place for investment or even relocation.
Historical Context of Cascais
Historical Context of Cascais The town has not always been synonymous with luxury and elegance. As recently as the early 20th century, it was a small fishing village. However, with the influx of foreign capital over the last few decades, the luxury real estate market in Cascais has experienced significant growth due to high demand and investment appeal. Cascais has transformed into an elite resort, attracting affluent individuals from around the world. Luxury real estate in Cascais is not a cheap indulgence, but it offers a lavish lifestyle and reliable investment opportunities.
Types of Luxury Real Estate in Cascais
Currently, the most in-demand types of luxury real estate are villas, mansions, and apartments, particularly penthouses.
Villas
Private villas in Cascais make up the majority of the housing market. Prices start at €2.5 million and can exceed €10 million. These properties are usually situated on large plots of land, which often feature panoramic views of the Atlantic Ocean or scenic mountain landscapes.
Special features of villas in Cascais include ample outdoor spaces, swimming pools, barbecue areas, gardens, mini-gyms, and home theaters.
Mansions
Mansions in Cascais are not just homes; they are works of art and history. The cost of such properties starts at €4 million, and that’s just the beginning. They can be located in historical districts and often include a range of luxurious amenities: vast gardens, artificial ponds, fountains, and even stables or helicopter pads. Their architecture often has historical significance, and many are considered architectural landmarks.
Penthouses
Penthouses in Cascais are apartments situated on the top floors of high-rise buildings, featuring panoramic windows and stunning views of the city and ocean. Prices start at €1.5 million and vary depending on several factors, including area, location, and the level of the condominium. These properties often have extensive terraces, high-quality finishing materials, and modern technological features, ranging from “smart home” systems to top-tier security measures.
For those who appreciate urban living and comfort, penthouses are of special interest.
Apartments
If you’re looking for a blend of convenience and luxury, elite apartments in Cascais are an excellent choice. Prices for such apartments start at €1 million. These properties are located in prestigious areas with developed infrastructure and proximity to shops, restaurants, and cultural landmarks. The interior spaces of the apartments are usually distinguished by their comfort and thoughtful design: excellent layouts, fully equipped kitchens, built-in furniture, storage rooms, and underground parking.
Each of these types of luxury property in Cascais offers its unique advantages and features, but some common characteristics can be identified:
- Presence of Balconies and Terraces: These areas are an integral part of all coastal apartments, offering stunning views of the ocean or the city. They are also the most popular spots for relaxation at home.
- High-Quality Finishing: Property finishes meet high standards, including natural stone, quality plumbing fixtures, sliding window systems, and modern appliances.
- Swimming Pools: A mandatory addition to luxury housing in Cascais. All modern condominiums have access to either a communal or private pool.
- Security: Most complexes in Cascais are equipped with round-the-clock security, providing residents with peace of mind.
- Gardens: Some luxury apartments in Cascais come with private gardens that offer a serene and relaxing atmosphere.
Roca Estate has the experience and knowledge to help you find the ideal property that will meet all your requirements and desires.
Current Price Dynamics of Luxury Real Estate
As is the case throughout Portugal, the real estate market in Cascais has undergone significant changes over the past decade. After a period of stagnation and decline from 2010 to 2014, the market has shown steady growth. This trend stands out especially against the backdrop of the Covid-19 pandemic when many expected stagnation or price drops. However, despite everything, the growth has continued.
The average cost per square meter in Cascais is approximately €7,000, but this figure can vary. Villas with spacious plots and their own pools and gardens are valued from €2.5 million. Penthouses with ocean views and all modern amenities start at €1.5 million. Apartment prices start at €1 million and can go up to €3 million, depending on their location and size. Mansions in historical districts with unique architecture are valued from €4 million.
Types of Properties in the Roca Estate Real Estate Agency Catalog:
| Property Type: | Average Price: |
| Villas | €3,325,000 |
| Semi-Detached Houses | €2,550,000 |
| Detached Houses | €2,500,000 |
| Apartments | €1,600,000 |
| Penthouses | €3,000,000 |
At the same time, the Portuguese real estate market remains attractive to foreign investors. The unique climate, friendly locals, large expatriate community, and relatively low taxes compared to other EU countries make Portuguese property even more appealing and in demand. Coupled with an improving economic situation in the country, stability, and growth in property prices, Cascais represents an ideal choice for investment or permanent residence for those seeking a comfortable life on the coast.
Impact of Economic and Political Factors
The influence of economic and political factors on the luxury real estate market in Cascais cannot be underestimated and plays a key role in shaping the investment climate, and consequently, in assessing the risks and returns on property.
According to the Bank of Portugal, the country’s economy showed a noticeable growth of 6.7% in 2022 compared to the previous year, following a 5.5% increase in 2021 and an 8.4% decline in 2020. This recovery was partially driven by growth in the tourism sector and an increase in private consumption. However, the outlook for the coming years is not as rosy. According to estimates from the European Commission and the International Monetary Fund (IMF), the real GDP growth rate will drop to 0.7%. The Bank of Portugal projects a growth of 1.5% in 2023 and 2% in 2024.
These macroeconomic indicators impact the investment climate and consequently the luxury real estate market in Cascais. In conditions of stability and growth, investors are more likely to be active, which in turn, may lead to increased demand and prices for luxury properties.
It should be noted that despite the current positive momentum, the market remains sensitive to economic and political fluctuations such as global economic instability, banking system crises, rising energy prices, or political sanctions. These factors could negatively affect the attractiveness of Portugal’s real estate market, underlining the need for careful monitoring to make informed investment decisions.
Despite the overall turbulence in the EU, data from the Bank of Portugal and other financial institutions suggest that although economic growth will slow down in the current year, the overall indicators remain relatively positive, which positively affects the real estate market.
Future Projections
Based on the current economic and political situation, there is every reason to expect stability and growth in the luxury real estate market over the next 5-10 years. Here are some key trends:
- Solid Investment: Despite some economic fluctuations, Cascais will continue to attract investors as a reliable and profitable market.
- Rising Demand: Demand for luxury apartments and houses in Cascais is expected to remain high, particularly among foreign buyers, which may lead to a supply deficit.
- Increasing Value: The city’s favorable location and its reputation as a prestigious place to live will contribute to rising property values.
- Diverse Offerings: The market will continue to expand its selection of residential properties, making it appealing to various categories of investors.
In conclusion, the current economic and political conditions, along with sustained interest from foreign investors, make the luxury real estate market in Cascais attractive for investment in the coming 5-10 years. However, potential investors should take into account the high price levels and possible economic risks.
Analysis of the Local Luxury Real Estate Market in Cascais: Concluding Remarks
Cascais continues to be one of the most attractive and stable luxury real estate markets in Europe. With Roca Estate, you can always count on qualified service for property selection, transaction support, and after-sales service.
Comparison of Popular Real Estate Markets in Portugal:
| Mansions | Detached Houses | Villas | Apartments | Penthouses | |
| Lisbon | €9,000-€12,000 | €7,000-€10,000 | €8,000-€11,000 | €7,000-€10,000 | €10,000-€15,000 |
| Cascais | €9,000-€12,000 | €6,000-€9,000 | €7,000-€10,000 | €6,000-€8,500 | €8,500-€12,000 |
| Sintra | €7,000-€10,000 | €6,000-€8,500 | €6,500-€9,000 | €5,500-€8,000 | €7,500-€11,000 |
| Oeiras | €7,500-€9,500 | €6,000-€8,000 | €6,500-€9,000 | €5,500-€7,500 | €7,000-€10,000 |
| Porto | €6,000-€8,000 | €4,500-€7,000 | €5,500-€8,000 | €4,500-€6,500 | €6,000-€9,000 |
| Faro | €6,000-€8,000 | €4,500-€6,500 | €5,000-€7,000 | €4,000-€6,000 | €5,500-€8,000 |
| Lagos | €5,500-€7,500 | €4,000-€6,000 | €4,500-€6,500 | €3,500-€5,500 | €5,000-€7,500 |
If you have an interest in investing in Cascais or have any other questions, feel free to reach out. Sincerely, Anna Bratyna, Roca Estate.
At Roca Estate, we specialize in providing efficient solutions for real estate investors in Portugal. Our focus spans six key asset classes: warehouses, street retail, commercial centers, hotels, income houses, and office spaces. By implementing a value-add and income strategy, we identify undervalued properties, enhance their market value through remodeling, and lease them to generate stable rental income. This approach balances risk and reward, integrating cash flow from rentals with capital appreciation from renovations, offering both steady returns and long-term growth. To learn more about our services and how we can assist in maximizing your investment returns, visit our homepage.
