September suffers a break compared to the same period of the previous year, but annual accumulated continues to exceed 2018.

In September 2019, 11,407 sqm of offices were placed in Lisbon, 32% less than in the same period of 2018, when this indicator reached 16,659 sqm. Although the monthly break was sharp, it was not enough to stop the good trajectory of the year 2019 which at the end of September was 2.18% above the accumulated take-up in the first 9 months of the year.

The geographical highlights of the month go to zones 1 and 3. Zone 3 (Emerging) represented 34% of the total, about 3,913 sqm (compared to 7,779 sqm in September 2018). Zone 1 (Prime CBD) went from 270 sqm (September 2018) to 3,187 sqm (September 2019), being the zon with the second highest take-up registered (28% of the total), followed by zone 6 (Western Corridor) with 17%, zone 2 (CBD) with 16% and finally zone 7 (others) with 4%. Zones 4 (Secondary) and 5 (Parque das Nações) did not record any sqm placed in September 2019.

“2019 remains positive compared to the last year, a sign that the market has been able to absorb a good part of its demand, proving to be growing in vitality with the number of transactions registered in September surpassing those of the same period of the previous year, but failing to respond to immediate searches or large space searches, something that should only begin to be filled with the entrance of the projected pipeline projects into the market that will boost mainly zones 1, 3 and 5” says Rodrigo Canas, Agency Director of Savills.

Take-up per Market Zone

Number of Transactions

In September 2019 14 operations were verified, 40% more than in the same period of the previous year. Regarding the annual accumulated, there were 18.75% less transactions between January and September 2019 compared to the same period of 2018.

Take-up per Activity Sector

The TMT's & Utilities and Business Services sectors were the most active sectors, having occupied 3,915 sqm and 3,377 sqm respectively.