It takes a special destination to go from being just a fun holiday destination to a place you could call home long term. But there’s one city capturing every millennial’s heart recently: Lisbon. Portugal’s capital has seen an emigration boom as 18-35’s flock there to live their best lives and we fully support this decision.
Lisbon has become a magnet for millennials with the biggest influx coming from around the world in the Gen Z and millennial age bracket. According to a report by The Guardian, 60% of 18-35’s is actively looking to move abroad and it seems the typical London jaunt just isn’t cutting it anymore due to the high rental prices and let’s face it, poor weather. The report says the “pace at which people are moving to the city has expanded exponentially”.
“Today’s workers are self-employed and geographically flexible; they’re freelancers who can work anywhere, provided the broadband is fast enough.” – The Guardian
“So why live in a city like London – where rent is eye-wateringly expensive and the weather uniformly grey – when you could halve your living costs and wake up every morning to sunny skies?”, The Guardian writes. It’s a fair point considering Lisbon is known for lush weather almost year-round, great bars and restaurants, and has a thriving hipster scene in cool neighbourhoods like Graça, Cais de Sodré, Bairro Alto and Príncipe Real. It’s little surprise millennials are keen to move in.
Millennials are flocking to Lisbon
Image source:Contiki
Of course, there are downsides to the rapid migration. Some locals are concerned this may drive rental prices up and decrease access to apartments in the city centre as the demand increases. Many homeowners are putting their homes onto Airbnb to take advantage of the boom but this leaves locals with limited options on where to rent. There is also concern about the impact a large expat population will have on the culture of the city, with student bars potentially replacing traditional stores.
Time will tell how the city plans to manage the changing demographics and needs but one thing is for sure, Lisbon is one of the hottest places to visit and live right now.
