Manuel Garrido
The historical Avenidas Novas district is reminiscent of the 19th century, yet it is still a modern neighbourhood. It’s situated in Lisbon, home to charming cafes, boutique shops, leafy green parks, and perpendicular streets. The main avenue, Avenida da República, is majestic, lined by modern buildings and luxury shops resembling the Champs-Élysées boulevard in Paris.
When it comes to investing in property, Avenidas Novas is among the top five Lisbon neighborhoods to consider. Not only does the neighborhood have diverse architecture and unique properties for sale, but it’s also home to a considerable number of retirees, expats, and families.
In this Avenidas Novas Lisbon neighborhood guide, we’ll take a look at why so many people flock there, what the area has to offer, and the average property price in Avenidas Novas.
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Overview of Avenidas Novas
Avenidas Novas is a central, upscale district in Lisbon, known for its wide, tree-lined avenues, modern architecture, and a blend of residential and business life.
The area stretches from Marquês de Pombal to Campo Grande, featuring elegant buildings, bustling commercial zones, and leafy parks like Parque Eduardo VII.
But make no mistake, it’s a residential district through and through, complete with smaller, leafy green streets, local pastry shops, cafes, restaurants, and boutique shops.
The neighborhood is home to Portuguese families, professionals, retirees, and a growing international expat community, including residents from across the EU, Africa, America, and Asia.
It is considered safe, cosmopolitan, and family-friendly, with a strong presence of coworking spaces, international schools, and cultural institutions like the Calouste Gulbenkian Museum.
Why buy property in Avenidas Novas?
If you are looking to buy property in Lisbon, the area is one of the most sought-after in the capital city. It offers a cosmopolitan lifestyle in a central, safe, and well-connected part of Lisbon. Here are four reasons why anybody should consider buying real estate in the area:
Modern, high-end, and safe: The area is renowned for its upscale ambiance, security, and quality of life, making it a top choice for families, professionals, and international buyers.
Prime business and lifestyle location: Home to many major companies, shopping centers like El Corte Inglés, and cultural landmarks such as the Calouste Gulbenkian Museum, Avenidas Novas is both a business hub and a lively residential district.
Excellent transport and infrastructure: With multiple metro stations, major roadways, and proximity to the airport, the neighborhood is exceptionally well-connected for daily commuting and travel.
Strong investment potential: Real estate here offers spacious, modern properties with steady demand and solid long-term value, supported by ongoing development and limited supply.
Property types
The most common option, ranging from compact one-bedroom flats to spacious family apartments with three or more bedrooms, is modern apartments. Many are found in new or recently renovated buildings, often featuring balconies, terraces, and parking. Some developments offer amenities like concierge services and private gardens.
However, there are also several other options for eager buyers:
Luxury Penthouses: High-floor units with expansive views over Lisbon, large terraces, and high-end finishes. These are rare and command premium prices.
Historic and Art Nouveau buildings: The neighborhood is dotted with Art Nouveau palaces, restoration projects, and early 20th-century buildings, offering unique architectural details, high ceilings, and generous living spaces.
Townhouses and villas: Less common but available, especially in quieter residential pockets. These properties offer more privacy and space, sometimes with private gardens or pools.
New developments: Ongoing projects are bringing more contemporary apartments to the market, designed for modern living with energy efficiency and smart-home features
Check out our Buying property in Portugal Ultimate Guide
What To Consider When Buying a House in Avenidas Novas
Prices reflect the area’s central location, quality of life, and enduring demand, making it a prime choice for both residents and investors seeking long-term value in Lisbon. Therefore, several factors should be considered when investigating the area for possible purchases.
1. Neighborhood is everything
Purchasing property abroad can be a rewarding experience, but it’s essential to take your time and conduct thorough research before making a decision. Investigate the neighborhood, review any upcoming infrastructure projects in the area, and, ideally, speak with local residents to gain a better understanding of the community.
2. Property evaluation
While it’s not legally required, obtaining a property evaluation before purchasing any property is highly advisable. Older homes, in particular, may have issues that can become costly to repair. Your solicitor can assist you in finding a reputable, registered surveyor to carry out the evaluation for you.
3. Investment potential
Due to steady demand and limited supply, Avenidas Novas offers strong return potential in the medium and long term. The area is popular with families, professionals, and expats, making it attractive for both primary residence and rental investment. Long-term rental yields can reach up to 7% for well-located apartments.
4. Paperwork and legalities
Buying property in Portugal involves significant paperwork and bureaucracy. Work with a licensed real estate agent, such as our Goldcrest Real Estate Portugal, and a solicitor familiar with local regulations to guide you through the process. Ensure all documents are in order and, if necessary, have them translated for clarity and future reference. This helps avoid legal pitfalls and ensures a smooth transaction.
Five Things To Do in Avenidas Novas
Considering Avenidas Novas is a huge district, you’ll never run out of things to do and see here. Below are some of the not-to-be-missed spots to check out in the area. How much more fun can a district offer?
Calouste Gulbenkian Museum
It’s a given that the Calouste Gulbenkian Museum, along with its gorgeous gardens, is considered a masterpiece in Portugal. For art lovers, this is Lisbon’s must-see museum, whereas the park is the perfect spot to take a stroll, read a book by the stream, or feed the ducks.
Fonte Luminosa
This monumental fountain got its name from a light show that happens every evening. There are many bakeries dotting the fountain, so you can easily sit down, grab a beer, and enjoy the view.
Pimenta Palace
The Pimenta Palace is an 18th-century palace built for a nun, who so happened to be the king’s mistress. The palace holds the city’s history together, taking visitors through the Roman, Visigothic, and Moorish times right down to today’s contemporary times. The palace has a gorgeous garden with peacocks and large ceramic animals, making it the perfect place to go for a walk.
Campo Pequeno Arena
Campo Pequeno is so much more than a bullfighting arena. Its majestic red brick building goes back to the Moorish times, complete with oriental-style domes and arches where bullfighting still takes place (every Thursday, from Easter to October). But mostly, this arena is used for music gigs and events. The lower level boasts a mini shopping mall, a food court, and a cinema. For many reasons, Campo Pequeno is a must-visit.
Parque Eduardo VII
As one of central Lisbon’s largest green parks, this park is made up of 26 hectares, holding greenhouses, Padel and Tennis Courts, fantastic restaurants, and plenty of spots in the shade to enjoy a picnic or get immersed in a good book. It is easily reachable by public transport or by walking down the winding perpendicular streets.
El Corte Inglés
Avenidas Novas wouldn’t be complete without its shopping mall giant, El Corte Ingles. It’s a huge department-type mall where you can find everything you may ever need, including electronics, food, clothing, shoes, and the works. Just keep in mind that the average price for goods can be slightly higher than elsewhere.
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Frequently Asked Questions about Buying Property in Avenidas Novas
What is the average property price in Avenidas Novas?
The average property price in Avenidas Novas is around €9,285 per square meter, with renovated apartments typically ranging from €5,200 to €6,500 per square meter and new or luxury properties reaching up to €10,000 per square meter.
Is Avenidas Novas a good neighborhood to invest in real estate?
Yes, Avenidas Novas is considered one of Lisbon’s top neighborhoods for real estate investment. It offers strong medium- and long-term return potential due to high demand, limited supply, ongoing new developments, and its reputation for safety, modernity, and excellent infrastructure.
What types of properties are available in Avenidas Novas?
Avenidas Novas features a wide range of properties, including spacious modern apartments, luxury penthouses, renovated Art Nouveau and Art Deco buildings, townhouses, and new residential developments. Many properties offer amenities such as balconies, parking, and access to green spaces.
Is Avenidas Novas a good place to live?
Yes, if you live in Avenidas Novas, you’ll be living in one of the safest parts of the city. You’ll also have lots of different shopping options, luxury and affordable restaurants, hip cafes, and quiet leafy green streets. This is a lovely part of Lisbon to live where you have sweeping sea views in parts of the neighborhood and many parks to enjoy.
Are there new developments in Avenidas Novas?
Yes, there are several ongoing and recently completed new developments in Avenidas Novas. These projects offer modern, energy-efficient apartments with high-quality finishes, large balconies, and contemporary amenities, catering to both families and professionals. Most will have a strong return potential in the future.
How does Avenidas Novas compare to other Lisbon neighborhoods for real estate?
Avenidas Novas stands out for its contemporary architecture, spacious properties, and excellent infrastructure. While it is more expensive than many neighborhoods, it offers better value and larger, newer homes than historic districts like Baixa or Chiado, and is considered safer and more family-friendly.
Is it expensive to buy an apartment in Avenidas Novas?
Yes, buying an apartment in Avenidas Novas is considered expensive by Lisbon standards. Prices for apartments typically start around €500,000, with the average price per square meter ranging from €7,000 to over €9,000, depending on the property’s age, condition, and location.
What are the rental yields like in Avenidas Novas?
Rental yields in Avenidas Novas are strong, with long-term rental yields reaching up to 7 percent for well-located apartments. The area’s popularity with professionals, families, and expats ensures steady rental demand and attractive returns for investors.
