Madonna House Hunting in Lisbon Adds to Rising Price Fears
The rumor has been around for a while. That one more celebrity is in town shopping property.
This time its Madonna who is in Lisbon searching for ways to spend her money.
Despite other rumors that the real estate market is reaching a bubble there are no reasons to worry.
There isn’t such a bubble or pre-bubble, Secretary of State for Industry Joao Vasconcelos says to Bloomberg. It’s not comparable.
“There may be some buying euphoria in very specific parts of the city that are
making it hard for Portuguese families to buy or rent a house in the city center,” said Ferreira of the real estate developers’ association. “But prices will continue to rise in the city as long as it’s driven by foreigners and they remain below prices in other markets such as Madrid, Barcelona, Paris or London.”