Housing construction in Lisbon (1860-1930): its development and corporate structure

Abstract

The article starts by describing the rhythms of housing construction in Lisbon between 1860 and 1930. Subsequently the author deals with the corporate structure of property development. The results show that the business initiatives were very dispersed, more so than other European capitals or large cities. The great majority of operators in the sector only constructed dwellings from time to time, and the activity was marginal compared with other occupations - activities that had the aim of exploiting their ownership of urban land to raise additional revenue. Attempts to promote property societies that had wider financial support, and might have had a more prolonged presence in the housing construction sector, were a failure. This fact accentuates even further the picture of low specialization in the sector that dealt with residential property speculation. Finally, the article endeavours to give reasons for the activities being so dispersed. To do this, it looks at housing construction's peculiar features that have been developed to cope with uncertainty and variability in the property market. Additionally, it examines the conditions that distinguished Lisbon's urban growth between 1860 and 1930.