Tech Start-ups in Portugal boost Real Estate in Lisbon

The booming Tech Start-ups in Lisbon are helping in revitalizing the economy of the city. Its property markets are also set to gain from this growth.

More and more numbers of rundown buildings in Lisbon are being transformed by “Techpreneurs”. It also includes public funds for working spaces and hubs for businesses related to digital Technology.

At present, there are now 50 plus co-working spaces in Lisbon as per Made of Lisoba, the community for Entrepreneurs. Additionally, Tech workers are refurbishing properties in emerging areas. Most of them are youth seeking affordable workspaces and homes to rent. This is aiding to place neighbourhoods again on the property map. It is also assisting in enhancing the prices of property and attracting more property and business investors.

Lisbon today boasts of a sea or Tech talents both locally and from overseas. It also has aid from the private and public sectors in the form of initiatives, grants, and tax incentives. The city is thus on its way to emerge as the top Tech hub in Europe, as quoted by the Mansion Global.

Tourism is further supported the property market growth in Lisbon. This is as per the Savills Buying Guide on Lisbon published in 2018.

The hub for Tech start-ups in Lisbon is thriving and getting established further.

A European Commission initiative EU Start-up Monitor has reported that Lisbon’s Start-up culture is not just a trend anymore. It is emerging as one of the largest hubs for Start-ups in Europe alongside Copenhagen, Paris, Berlin, and London.

The authorities of Lisbon city have offered a former factory for being used as an incubator hub called Beato Creative Hub. It will offer workspace of 35,000 square meters.

In 2018, Google announced that it is launching an innovation centre in Oeiras just outside Lisbon. It is projected that this will create 500 plus jobs.

Google joins the likes of Zalando the German online retailer, Mercedes-Benz, and Volkswagen the automaker owning digital hubs in Lisbon. Additionally, a Dutch streaming platform Mycujoo and an Estonian and American-based software company Pipedrive have opened offices here recently.

The Tech Start-up sector in Lisbon is growing speedily. Around 700 companies were launched in the high-tech sectors between 2014 and 2016. This is as per Made of Lisoba.

In 2018, there were around 800 local and overseas Start-ups of large size in the tech ecosystem of Lisbon. This is as per Datascouts the data gathering company.

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