If you haven’t yet heard of the Portuguese Riviera it’s time to discover. This incredible coastline stretches out to the west of Lisbon, and its upmarket seafront neighborhoods make it popular with both expats and investors.
Are you considering it, but aren’t sure where to buy property in Cascais? Take a look through this article to find out more about the different areas and where is the best place to invest.
The history of the Portuguese Riviera
The Cascais municipality is one of the wealthiest areas, not just in Portugal but also throughout the entirety of the Iberian Peninsula.
The region was first established as a luxury resort for Lisbon’s wealthiest residents in the 1800s when the King of Portugal, Luis I, established a summer residence in the town.
The area’s upmarket reputation was later solidified with the Casino Estoril. Construction began in 1916. Today the casino is one of the biggest in Europe and served as inspiration to James Bond writer Ian Fleming, who visited the area as an intelligence agent for the British government in 1941. The Estoril promenade is also worthy of a mention and is the perfect place to head to in the evenings to watch the sunset. Estoril center also has wellness centers if you are looking for a bit of relaxation.
Due to the country’s neutrality during WWII the Portuguese Riviera became a hotspot for dispossessed royals and spies, and even today the beauty and luxury will remind visitors of the set of a James Bond film.
Why buy property in Cascais?
The Cascais municipality isn’t just beautiful—it is also a fantastic location to invest in property. It’s not difficult to understand what makes the area one of the most highly valued in Portugal, it is placed on a picturesque stretch of coastline, but is also close to the capital city. A train line links the neighborhoods along the beach with the center of the city, and Lisbon is less than 45 minutes away by car, making it an excellent idea to buy property in Cascais.
Climate in Cascais
Cascais benefits from a moderate climate, with hot weather in the summer and mild winters. In the summer there are average highs of 26°C, though daytime temperatures frequently surpass 30°C. It also has the benefit of being by the Atlantic coast, which means even on the hottest days there is usually a sea breeze to provide some relief from the heat. In January, the coldest month, average lows are around 11°C.
Beaches in Cascais
Anyone looking to buy property in Cascais will probably already know that the area is famous for its beaches, with some of the most popular being Carcavelos, the Praia da Rainha in the town of Cascais, and Guincho on the coast to the north. The beaches are not only beautiful but also varied, Carcavelos is popular with surfers, whereas the calm waters of São Pedro are more popular with beachgoers who are looking to work on their tan. The rugged coastline of Sintra offers something entirely different, and although it can be windier than Cascais, it is better for those who prefer wilder, less developed coastlines. One thing is for sure, beach lovers will find many different kinds of beaches close to Cascais to explore.
Culture in Cascais
One of the highlights of living in Cascais is the diverse cultural activities it has to offer. There are a number of art galleries in the town of Cascais, including the Casa das Histórias Paula Rego and the Museu Condes de Castro Guimarães.
Luxury living in Cascais
The Cascais greater area is known for its luxury, from the casinos to the golf courses and Michelin-star restaurants. There are a number of high-end restaurants to choose from, including two Michelin-starred restaurants overlooking the Penha Longa golf course: LAB and Restaurante Arola. Alongside the fine dining, there are many opportunities to drink cocktails and good wine at many places along the Cascais coastline. One of the highlights in the Palacio Hotel in Estoril, where you can drink a martini in one of the places that inspired James Bond.
Expats in Cascais
The high quality of living in Cascais attracts many expat communities to the area, as well as the excellent local schools and the proximity to Lisbon city center.
Property map of where to buy property in Cascais
Cascais and Estoril
– Good amenities
Visitors to the town of Cascais will find themselves among the palaces and turreted mansions that bring to mind its regal past. Homes in Cascais and Estoril are among some of the most expensive in the entire municipality. You will also find the gorgeous Praia da Rainha here, which you can head to even in the depths of winter and Cascais Marina, where you can enjoy strolling around on a lazy Sunday afternoon.
Estoril is the location of the famous Casino Estoril, which the oldest in Portugal and the largest in Europe. The leafy suburbs in the surrounding area have large, spacious houses, many with swimming pools and just a short distance from the beach.
Property prices in Cascais and Estoril
The average price for an apartment is €5,258 per m², while the price average price for a house is €4,000 per m².
Advantages of property in Cascais and Estoril
Life in the Cascais region is incredibly family-friendly, with a number of good international schools to choose from, such as Park International School, St John’s School and St Antonio International School. There is also a wide variety of excellent housing on offer, with spacious, detached homes, close to all the necessary amenities, like supermarkets, gyms and yoga studios. The area has excellent transport links—residents can be in Lisbon’s business district in 30 minutes.
The Cascais housing market is also very highly valued, as well as stable, and has seen a 37% increase in house prices over recent years.
Carcavelos and Parede
– Beautiful beaches, good for surfing
– Spacious houses
Halfway between Lisbon and Cascais, the neighboring suburbs of Carcavelos and Parede have a laid-back and tranquil quality of their own. With large, detached houses leading down to the beach, these areas are a favorite spot for surfers, owing to the quality of the waves on Carcavelos beach.
The beachfront is transformed during the summer, as it is one of the preferred weekend getaways for Lisbon residents looking to escape the heat.
Property prices in Carcavelos and Parede
The average price for an apartment is €2,616 per m², while for houses it is €3,225 per m².
Advantages of property in Carcavelos and Parede
Like Cascais and Estoril, Carcavelos and Parede also have a number of excellent international schools, such as St Julian’s School and St Dominic’s International School. It is also a hotspot for outdoor sports, in the winter months it gets some of the best waves in Portugal, and it is also a good spot for bodyboarding, paddleboarding in the summer, as well as kitesurfing and kiteboarding.
– Cheaper investment option
– Good for golf courses, hiking, cycling
One of the more reasonably priced areas of the Cascais district, Alcabideche is situated along the coast to the north of the town of Cascais. It offers the opportunity for investment at a lower cost, while still having all the advantages which the Cascais area has to offer, such as beautiful coastlines and a convenient location. In terms of schools, there is the IPS-International Preparatory School and St James’s Primary School.
One of the advantages of Alcabideche is its proximity to Sintra national park, convenient for anyone interested in hiking and cycling. It is also close to the Penha Longa and Oitavos Dunes golf courses.
Property prices in Alcabideche
The average price for an apartment is €2,566 per m², while for houses it is €2,194 per m². Investment opportunities can be found for around €1,978 per m².
Is it better to rent or buy property in Cascais?
Whether it is better to rent or buy property in Cascais depends completely upon the individual circumstances of each person. Buying a property in Cascais is however a good investment opportunity.
If you would like to talk to a property specialist about what investment opportunities could be available to you, schedule a free 15-minute consultation with one of our team today.
Is it better to buy property in Cascais or Lisbon?
There are a number of benefits to buying property in both Cascais and Lisbon. Both present as stable investment opportunities, with the price of property has risen steadily over the past few years, and is forecast to continue doing so. The difference between the two is in what they offer, while properties in Lisbon will be closer to the city center, homes in Cascais are larger and closer to the beach.
Get in touch
Global Citizen Solutions provides expert advice on property investment in Portugal.
Get in touch to schedule a free 15-minute consultation about buying property in Portugal.