Madonna is shopping property in Lisbon.

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.

 

Tings Lisbon as seen from the Miradouro.jpg

THE RED TINGS LISBON AS SEEN FROM MIRADOURO DA SENHORA DO MONTE: Yesterday a foreign woman entered our door: Is this house for sale she asked. After Bairro Alto, Principe Real, Baixa and similar classic parts of downtown Lisbon has reached ‘the roof’ real estate buyers are hunting houses in other parts of down town – like Graca.


 

bloomberg-logo“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.”

Read Henrique Almeida’s story in today’s Bloomberg

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