Savills

Publication

Lisbon Office Market - Performance Analysis - October 2019

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

Two months from the year end, the market is fast approaching the value reached in 2018, foreseeing the maintenance of good momentum.

Alexandra Portugal Gomes

 

In October 2019, the Lisbon Office Market recorded a total take-up of 14,498 sq.m, a decrease of 34% compared to the same period of 2018.

As in the previous month, the sharp drop in activity had no negative effects on the cumulative absorption volume, which reached 160,101 sq.m, reflecting a slight decrease of 3.6%.

In the accumulated year of 2019, 135 operations were verified, 29% less than in the same period of 2018.

“However, it should be noted that several pre-leasing operations have contributed to these results, which in total added about 31,000 sq.m to the absorption volume between January and October 2019.

Two months from the year end, the market is fast approaching the value reached in 2018, foreseeing the maintenance of good momentum. In a year when the lack of supply marked the Lisbon office scene, these are undoubtedly excellent indicators”, says Alexandra Portugal Gomes, Senior Research Analyst at Savills.

 

Take-up per Market Zone

 

Take-up per Market Zone (Accumulated)

 

Take-up per Activity Sector