As September arrives and daily routines resume, attention turns to the cities that reward those who live, work, and invest in them. Data from the forthcoming Savills World Cities Prime Residential Index examines market performance and the local dynamics shaping them. Across the 30 global cities tracked by the index, capital values rose by 0.6% and rents by 1.1% in the six months to June 2026, although beneath the headline figures lies a diverse picture shaped by supply constraints, wealth creation, demographic shifts, and international demand.
Southern European cities continued to outperform, with Lisbon, Madrid, Barcelona, Athens, and Rome all recording positive capital value growth, while Europe’s major business centers, including Geneva, Milan, Amsterdam, and Paris, also remained in positive territory. Across Europe, Savills Global Residential continues to offer desirable properties, a global consultancy with an extensive international network, providing clients with an end-to-end service.
A Resilient Outlook for the Second Half of 2026
The prime residential forecast is expected to be broadly stable through the remainder of 2026, with capital values projected to rise by 0.5% across the 30 cities tracked. Growth is anticipated in 16 markets, with 10 expected to remain flat and only four projected to decline.
Local Factors Take the Lead
As the era of synchronized global growth recedes, city-specific conditions increasingly shape market performance. Supply constraints, expanding technology sectors, and sustained international demand continue to support growth, while geopolitical disruption creates varied outcomes between world cities. Cities able to combine constrained supply, strong household wealth creation, and sustained international demand are likely to outperform, with relative value, lifestyle appeal, and long-term economic fundamentals set to remain the defining drivers.
Portugal: Sustained Momentum in Lisbon and Porto
Southern Europe remained a bright spot, supported by resilient demand, lifestyle appeal, and constrained supply. Lisbon led the region with capital value growth of 3.3% and rental growth of 7.6%, per the Savills World Cities Prime Residential Index, with limited stock supporting rents while constraining price appreciation.
Lisbon: Design-Led Living Near the Waterfront
In the vibrant Misericórdia district, this residence pairs architectural pedigree with a central position steps from the Chiado.
3 Bedroom Apartment in the Condessa do Rio, Lisbon
Price: €1,300,000
Beds/Baths: 3 beds, 3 baths
Size: 205 sqm
Designed by architect Carrilho da Graça, this apartment in the Condessa do Rio condominium on Calçada do Combro offers 205 square meters of gross private area and two parking spaces. The social area centers on a bright 44-square-meter living and dining room, complemented by a fully equipped kitchen with Miele appliances and a guest bathroom, while the private area comprises three bedrooms, including a suite with a walk-in closet, plus a storage room. Positioned a five-minute walk from Praça Luís de Camões and the Baixa-Chiado metro station, it sits within easy reach of traditional commerce, restaurants, and Lisbon’s waterfront.
Porto: Riverside Exclusivity at Aurios
Overlooking the Douro River, the Aurios development sits just minutes from the historic center.
4 Bedroom Apartment in Aurios, Porto
Price: €1,800,000
Beds/Baths: 4 beds, 5 baths
Size: 397 sqm
Comprising 26 villas and 22 apartments in three- to five-bedroom layouts, Aurios is an exclusive residential community designed for those who value privacy, tranquility, and privileged views over the Douro, just seven minutes from Porto’s historic center. Interiors are spacious and light-filled, extending seamlessly outdoors, while the condominium’s amenities include private swimming pools, a communal pool, a padel court, a fitness center, and a dedicated kids’ room. This completed development delivers a premium residential experience where exclusivity and well-being align.
Spain: Steady Gains in Madrid and Barcelona
Spain’s major cities recorded steady gains, with capital values up 2.4% in Madrid and 1.5% in Barcelona, and rents rising 2.1% and 2.0% respectively, according to the Savills World Cities Prime Residential Index.
Madrid: A Salamanca Penthouse With Three Terraces
In the prestigious Salamanca neighborhood, this penthouse occupies an entire floor with panoramic views across three orientations.
Brand New Penthouse With Three Terraces, Salamanca Castellana
Price: €4,350,000
Beds/Baths: 4 beds, 4 baths
Size: 265 sqm
Refurbished by architect Miguel Molins, this penthouse occupies the entire eighth floor and is arranged around a large central courtyard, divided into distinct social and private areas. The west-facing living and dining room opens through floor-to-ceiling sliding glass doors onto a near 20-square-meter terrace, while the modern kitchen benefits from large south-facing windows. Four bedrooms, all with en-suite bathrooms and terrace access, complete the layout. First-class finishes include natural oak floors laid in a herringbone pattern, aerothermal underfloor heating and cooling, motorized thermal blinds with sectorized domotics, and Cortizo aluminum windows.
Barcelona: A Passeig de Gràcia Residence With Private Pool
On one of Barcelona’s most prestigious avenues, this residence balances period grandeur with contemporary comfort.
Flat For Sale in Eixample, Barcelona
Price: €9,200,000
Beds/Baths: 6 beds, 4 baths
Size: 409 sqm
Set within an elegant historic building dating from 1910, with concierge service, this residence retains original period frescoes and ornate moldings across soaring ceilings while incorporating a comprehensive high-standard renovation. It offers over 370 square meters of internal space and an extraordinary 264-square-meter private exterior, including a terrace with multiple entertaining zones and a private swimming pool, a rare urban oasis in the heart of the city. The principal reception room faces Passeig de Gràcia with balconies and a traditional bay window, flowing into a formal dining room, while a more intimate second living room opens onto the terrace.
Italy: Broadly Positive Across Rome and Milan
Italy rounded out a positive regional picture, with Milan and Rome recording capital value growth of 1.5% and 0.2% and rental growth of 2.0% and 1.8%, respectively, per the Savills World Cities Prime Residential Index. Strong lifestyle credentials and improving connectivity continue to underpin demand.
Rome: Refined Living Near Villa Massimo
In one of Rome’s most elegant residential neighborhoods, this apartment overlooks the greenery of the German Academy gardens.
Via di Villa Ricotti, Rome
Price: €1,490,000
Beds/Baths: 3 beds, 3 baths
Size: 130 sqm
Set within a recently completed building a short walk from Villa Massimo, this fourth-floor apartment is filled with natural light through generous windows. The main living area features a spacious reception room opening onto a terrace with a rare, peaceful outlook over the German Academy gardens, also accessible from the fully equipped kitchen. Three well-proportioned bedrooms are thoughtfully separated for privacy, with the principal bedroom offering an en-suite bathroom and private balcony. Residents benefit from a gym, coworking space, bicycle storage, parcel lockers, a panoramic communal rooftop terrace, and concierge service, along with a private garage and cellar.
Milan: An Independent Villa With Private Garden
Along the quiet, private Via Privata Caccini, this fully independent villa offers a rare combination of city living and outdoor space.
Via Privata Giulio Caccini, Milan
Price: €1,550,000
Beds/Baths: 4 beds, 4 baths
Size: 231 sqm
Developed across four levels and measuring approximately 230 square meters, this independent villa sits just steps from the Lombardy Regional Headquarters, Porta Nuova, and Isola, three of the city’s most dynamic districts. The entrance opens into a spacious living area alongside a large eat-in kitchen with direct access to the private garden, the true heart of the home, with the possibility of reopening a small pool. A lower-level taverna suits a guest suite or home office, the first floor hosts a primary bedroom with balcony and a second double bedroom with designer walk-in wardrobe, and the attic offers a further bedroom and study. The villa is equipped with air conditioning, independent heating, an alarm system, and fiber-optic connection.
Greece: Attractive Returns Along the Athens Riviera
In Athens, capital values increased 1.2%, though rental growth eased to 0.9% as new prime supply entered the market, according to the Savills World Cities Prime Residential Index. The city continues to offer some of the Mediterranean’s most attractive returns, with prime yields of 4.0%.
Athens: Sea Views on the Riviera
In one of the Athens Riviera’s most prestigious neighborhoods, this top-floor apartment pairs openness with a majestic sea view.
Top Floor Apartment in Athens Riviera
Price: €2,550,000
Beds/Baths: 2 beds, 2 baths
Size: 160 sqm
This top-floor apartment offers large terraces and generous windows that create a striking sense of openness, framing a majestic sea view set against lush green surroundings. Modern in design, it includes a spacious outdoor living area with a jacuzzi, a parking area, and privacy and security systems, delivering a refined balance of comfort and coastal living in one of the Riviera’s most sought-after settings.
Selecting the Right City for the Season Ahead
As the final quarter of 2026 approaches, selecting the right city becomes increasingly important. While synchronized global growth appears to be in the past for now, the outlook for prime residential markets remains resilient, with Southern Europe’s combination of resilient demand, lifestyle appeal, and constrained supply positioning it among the strongest performers. From Lisbon’s design-led apartments to Madrid’s terraced penthouses and the Athens Riviera’s sea views, these nine residences reflect the depth of opportunity across some of the continent’s most desirable markets, each supported by the regional expertise of Savills Global Residential.
For more information, contact Savills Global Residential
