Insights
Lisbon and Porto High Street Retail Report 2025
Cushman & Wakefield's new High Street Retail report shows that 2024 marked a period of growth for high street in Lisbon and Porto, reinforcing a trend that had been in place since 2022.
In both Lisbon and Porto, the Luxury and Premium segment also showed remarkable dynamism. Physical stores continue to play a key role in this segment, with brands positioning their spaces as true experience centers, seeking out the most exclusive, elegant and sophisticated locations.
Our analysis also shows that retailers' store-opening activity is increasingly limited by the short supply of space, despite the fact that demand continues to rise. This imbalance is reflected in rent levels, which have continued to rise over the last year.
HIGHLIGHTS
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- In 2024, Lisbon consolidated its position as the main destination for high street retail in Portugal
- The number of stores increased by 12% in Lisbon compared to 2019, accounting for 31% of the total high street retail offer
- More than half of the offer in Lisbon is concentrated in the city's six Prime Zones
- In Porto, the number of high street units increased by 2% compared to 2019, with more than 60% of the total high street located in the three Prime Zones - Baixa, Av. dos Aliados and Clérigos.
Demand
- Lisbon stood out with 2,160 new units, followed by Porto, with 770 new stores. In both cities, the high street accounted for more than 80% of the total number of openings
- In both Lisbon and Porto, F&B was the most representative sector over the last decade, accounting for more than 60% of new high street openings.
Luxury and Premium
- Currently, the area occupied by Luxury and Premium brands in the city is 32,100 m², distributed over 120 stores, which corresponds to 10% of the total high street retail offer in Lisbon.
- Over the last decade, more than 30 new units have opened on Avenida da Liberdade, distributed almost evenly between Luxury and Premium retailers
- In Porto, the Luxury and Premium retail market has been growing progressively, in line with the city's evolution as a major tourist destination and economic center.
- Currently, the area occupied by these sectors in the city is 17,200 m², spread over 45 stores, which corresponds to 8% of the total high street retail offer in Porto.
Prime rents
- Against a backdrop of high demand and limited supply, market rents have reached record levels
- In 2024, Lisbon's high street retail saw increases of €10/m²/month in both Chiado and Avenida da Liberdade. In Porto, Rua de Santa Catarina and Avenida dos Aliados saw increases of €5/m²/month and €2.5/m²/month, respectively.
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