Office placement in May encourages prospects for the city of Lisbon.

The placement of offices in May 2019 doubled over the same period, thus reviving prospects of setting up offices in Lisbon. In total, 17,866 sqm were placed, with special emphasis on zones 3 (Emerging Zone) and 5 (Parque das Nações), which represented 60% of the total area placed; zone 6 continued to maintain the positive performance shown since 2018.

“With 4 placements over 2,000 sqm, the month of May has proven that the Lisbon office market continues to appeal to the most diverse multinational companies, in particular to non-financial companies and to TMT’s and Utilities, despite the lack of stock of large areas available for immediate occupation”, says Rodrigo Canas, Associate Director Agency Department of Savills Portugal.

During the month of May there were 19 transactions.

Zone 1 stood out for registering 5 operations, in a total of 2,113 sqm relating to spaces up to 1,300 sqm. On the other hand, zones 3, 5 and 6 recorded transactions of more than 2,000 sqm, and zone 5 registered the highest placement of the month, with 4,260 sqm.

There is still a demand for immediate occupation of large quality spaces in the centre of Lisbon, with a low supply continuing to thwart a potential dynamic. However, with the exception of zone 4, where no transaction was recorded, all other zones saw an increase in the take-up compared to the equivalent period.

The Company Services and Financial Services activity sectors were the most active ones, with the occupation of 6,739 sqm and 4,260 sqm respectively. The TMT’s and Utilities did not lose strength in the dynamism that has been presented since the beginning of the year, with 4.157 sqm occupied over the last month. Lisbon continues to be a highly attractive city for all types of companies, which has been shown this month, since all segments registered relevant transactions, except for the sector of State, Europe and Associations.