Pop-up dinners, concerts, vintage artisan markets, art exhibitions and djs spinning on roof-terraces – it’s all happening in Intendente. Along with the neighbouring barrios of Mouraria and Anjos, Intendente is having a serious moment, fast evolving into one of Lisbon’s coolest neighbourhoods. A significant turning point came when Lisbon’s mayor Antonio Costa moved his offices here a few years back, claiming the former factory of Lisbon’s iconic tile brand ‘A Viúva Lamego’ as his own. This sparked the cleaning up of Intendente’s streets and the regeneration of its central square, once frequented by the more marginal portion of society and now a honeypot for hipsters to have brunch on sunlit pavements. Soon after the beggars and prostitutes moved out, the city’s artists and hipsters moved in, attracted to its cheap rents, central location and the potential they saw in its crumbling 19th century palacetes.
The neighbourhood’s labyrinthine streets and elegant squares now combine innovative co-working spaces, creative ateliers and hip bars with more traditional workshops, while in the many cafes, local residents mingle to discuss how to improve the neighborhood and turn Intendente into a model for social transformation rather than gentrification. Here in Intendente is where boundaries blur beautifully between Lisbon’s traditional past and multi-cultural future.
One of the big draws for the city’s younger generation and the tourists who have started to flock here is its location, just 10 minutes by foot from Baixa, which is considered by many to be the heart of the city. Unlike most of Lisbon, the neighborhood is also predominantly flat, which proves a draw for young families looking for an affordable place to raise children.
The Property Market in Lisbon
Having come out of economic struggle in 2010, the real estate market in Portugal has seen a consistent rise. The price of property for sale in Lisbon increased by 4.9% between 2017 and 2018. Portugal and Lisbon alike have excellent housing markets, which generally tend to offer good value for money. Because of this, Portugal has the highest owner-occupation rate, with nearly 70% of the population owning their homes.
Unlike many European capitals that have become nearly unaffordable, Lisbon allows individuals to buy a house in central and prime locations, making an ideal property investment. A large proportion of foreign investors are French and Scandinavian, who have made Lisbon their second home. They, along with others, benefit from the low taxes and low-cost of living in the city.