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Portugal MarketBeat Snapshot Reports

Andreia Almeida • 2/28/2023

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 a strong recovery in 2022, Portugal’s economy is expected to slow down in the near term. According to Moody's Analytics, Portuguese GDP growth will slow down to 1.3% in 2023 (after 6.7% in 2022), followed by a recovery in 2024 (+2.8%) and 2025 (+2.2%). Inflation increased to 7.8% in 2022 and it is expected to gradually moderate to 5.2% in 2023 and 2.4% in 2024. Unemployment stabilized at 6.0% in 2022 and is expected to increase to 6.6% in 2023, recovering to 6.2% in 2024. 

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

Portugal Marketbeat Snaphots

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Author

Andreia Almeida
Andreia Almeida

Associate Director, Head of Research & Insight
Lisbon, Portugal

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Current Marketbeats - Q4 2022

Portugal stadium
Portugal Industrial MarketBeat
During Q4 2022, 25 new occupancy deals in a total of 233,710 sq.m were transacted in Portugal. The annual take-up volume reached 553,130 sq.m, representing a year-on-year (YoY) decrease of 22%. In the fourth quarter the activity was mainly concentrated in the Greater Lisbon area, recording 94,685 sq.m. The average leased area reached 7,475 sq.m.

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investment card
Portugal Investment MarketBeat
The recovery of institutional investment accelerated throughout Q4, with €1,216 million transacted, contributing to a total annual volume of €2.960 million in 2022 and reflecting a year-on-year increase of 37%. The Crow Portfolio transaction was the main contributor to this result, as the largest deal of the quarter (representing around 50% of total investment volume in this period).

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View across Lisbon towards the Tagus
Lisbon Office MarketBeat
The Greater Lisbon office market registered 39 new lease deals in a total take-up volume of 24,130 sq.m in Q4 2022. With a total of 200 deals in 2022, the year-end volume reached 272,000 sq.m reaching an all-time high and representing a year-on-year (YoY) growth of 68%. The average deal size increased to 1,360 sq.m, compared with 1,180 sq.m in 2021.

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office complex Porto
Porto Office MarketBeat
The Greater Porto’s office sector registered a take-up of 13,260 sq.m in the fourth quarter of the year, with 25 new deals. The take-up volume in 2022 reached 58,490 sq.m with 76 new deals, representing a year-on-year (YoY) growth of 3%. The average leased area decreased by 14% when compared with 2021, standing at 770 sq.m.

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Street roofed with umbrellas, Agueda, Portugal
Portugal Retail MarketBeat
During Q4 2022, the retail market registered the completion of 8,000 sq.m of GLA, considering the completion of Estoril Retail Park. Over the next three years a total of 63,500 sq.m of GLA are expected to enter the market, including Nova Vila Retail Park and City Covilhã that are expected to open in 2023, and the Centro Colombo (Lisbon) redevelopment and expansion for 2025. Cushman & Wakefield’s retail take-up registered 150 new openings in the Q4 and an annual volume of 530 new units in 2022 (-5% year-on-year).

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Download Previous Quarterly Lisbon Office Marketbeat SNAPSHOT Reports

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Download Previous Quarterly Retail Marketbeat Reports

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Download Previous Quarterly Investment Marketbeat Reports

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Download Previous Quarterly Porto Office Marketbeat SNAPSHOT Reports

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Download Previous Quarterly Industrial Marketbeat Reports

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MORE INSIGHTS

Street roofed with umbrellas, Agueda, Portugal
MarketBeat • Investment / Capital Markets

Marketbeat Portugal

O Marketbeat Portugal é um estudo semestral que analisa em detalhe a atividade dos setores de escritórios, retalho, industrial, residencial e hoteleiro, bem como a atividade de investimento imobiliário em Portugal. 
Andreia Almeida • 3/3/2023
0920226sctrendscard
Research • Logistics

A Década de maior disrupção nas cadeias de distribuição – 6 tendências a observar

Ascensão do onshoring, incremento dos custos de transporte, automação de processos, alternativas a imóveis de last-mile e maior preocupação com as políticas ESG são algumas das tendências para o mercado imobiliário na área de industrial e logística.
Benjamin Harris • 9/27/2022

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