Office Market Overview Q2 2025

Savills presents its latest report on the Portuguese office market, covering the first half of 2025. This publication provides a thorough analysis of the key office zones in Lisbon and Porto, highlighting current trends in occupancy, investment, and leasing values.

Key highlights:

• 6% of Lisbon’s office take-up was generated by international companies, contributing to a total of approximately 84,000 sq m in H1 2025 — despite a 34% year-on-year decline.
• Most large-scale transactions were driven by relocation strategies, reflecting occupiers’ pursuit of modern, efficient office space.
• Only 15–20% of Lisbon’s total office inventory qualifies as Grade A, with a strong concentration in areas such as Parque das Nações.
• Despite a 66% drop in take-up in Porto, the market shows signs of recovery and continues to attract international occupiers, particularly within the TMT sector.