Share:

Portugal MarketBeat Snapshot Reports

Andreia Almeida • 18/05/2021
Cushman & Wakefield MarketBeat Snapshot reports share quarterly Portugal commercial property activity across office, retail and industrial real estate sectors including supply, demand and pricing trends at the market and submarket levels.

Cushman & Wakefield MarketBeat reports analyse quarterly Portugal commercial property activity across office, retail and industrial real estate sectors including supply, demand and pricing trends at the market and submarket levels.

After two and a half months of general lockdown, the sanitary situation in Portugal improved substantially leading to a progressive four-phases lifting of lockdown restrictions, starting on March 15th.

Moody’s Analytics foresees a 5.0% GDP growth for the Portuguese economy in 2021, highly boosted by year-on-year increases of 10.7% in investment and 6.7% on exports. The forecast for 2022 is a 3.8% GDP growth.

Office

Lisbon: The Greater Lisbon office market registered 27 new lease deals in a total of 29,180 sq.m transacted in the first quarter of 2021, representing a year-on-year decrease of 34%. Parque das Nações (zone 5) registered 7 deals comprising 10,120 sq.m, including two pre-lets totalling 6,000 sq.m in Lumnia building (first of The Exeo Office Campus project).

Porto: Given tenants cautious approach due to the current pandemic and being the secondary office market in Portugal, the leasing activity in Greater Porto over the first quarter of 2021 was reduced to merely 2,940 sq.m distributed over 8 deals, meaning an average deal size of 370 sq.m. Porto - Boavista (zone 1) accounted for 64% of the take-up and featured the two largest deals of the year.

Retail

In the first quarter of 2021, retail demand recorded by Cushman and Wakefield’s proprietary database, merely registered 35 new openings, representing a significant decline of 71% year-on-year, with a combined area of 7,500 sq.m. Among these, high street format and Food & Beverage aggregated the highest share, of 63% and 54% respectively.

Industrial

During the first quarter of 2021, 15 new industrial occupancy deals in a total of 102,220 sq.m were transacted in Portugal, a year-on-year increase of 48%. This activity was mainly concentrated in Greater Lisbon and Greater Porto, recording 26,730 sq.m and 39,000 sq.m, respectively.

Investment

Although real estate investors demonstrate to be well capitalized in this crisis, with substantial volumes of liquidity ready to deploy, they continue to meticulously manage their current portfolios, as well as analyse new market opportunities.

Reflecting a much-reduced activity level throughout the first quarter of 2021 (highly affected by the long lockdown), institutional investment reached a mere €202 million. Its vast majority was in the office sector (66%), through the sale of Navigator portfolio (Maxirent fund, mostly composed by office assets) for approximately €120 million.

Get the full Portugal property market picture with all the market data by downloading the reports.

Current Marketbeat

View across Lisbon towards the Tagus
Lisbon Office Market Data

A summary of the Lisbon office market, providing comment on recent trends as well as market data and analysis.

Download

office complex Porto
Porto Office Market Data

A summary of the Porto office market, providing comment on recent trends as well as market data and analysis.

Download

Street roofed with umbrellas, Agueda, Portugal
Portugal Retail Market Data

A summary of the Portugal retail property sector in key cities, providing comment on recent trends as well as market data and analysis.

Download

Portugal stadium
Portugal Industrial Market Data

A summary of the Portugal industrial and logistics property sector providing comment on recent trends as well as market data and analysis.

Download

investment card
Portugal Investment Market Data

A summary of the Portuguese real estate investment market providing comment on recent trends as well as market data and analysis.

Download

MORE INSIGHTS

Carros eléctricos, Lisbon, Portugal
Insights • Economy

Portugal Real Estate Market View

A regular update on the commercial real estate market in Portugal.
Andreia Almeida • 27/07/2021
Street roofed with umbrellas, Agueda, Portugal
Research

Marketbeat Portugal

Marketbeat Portugal analyses the property market activity in depth across offices, retail, industrial, hotels, residential and investment sectors.
Andreia Almeida • 13/04/2021
View over Lisbon
Insights • Insights

Market Update Portugal

The profound impact of the COVID-19 pandemic - namely on exports (-15.5%), particularly on the services component (-36.3%) due to the decrease in tourism; and in private consumption (-7.4%), given the drop in non-food retail - lead to a contraction of the economy in 2020, estimated by Oxford Economics at 8.6%.


Andreia Almeida • 18/08/2020
Lisbon-generic-750x456
Insights

2020 Investors Survey Portugal

A total of 53 investors participated in the survey which we conducted between the 6th and 17th May in order to gather data as well as market sentiment during the lock-down period.

Andreia Almeida • 07/06/2020

LOOKING FOR DATA?

Looking for more historic or specific property market data? Get in touch.