Porto records largest office deal

Porto's office market has surged in H1, recording, not only, the largest office deal in the country, but also 2 additional important deals, close to 2.000 sqm each. International demand has been driving this surge, turning Porto as a viable relocation option for important international corporations.

Lisbon’s office market has also been performing well, with take-up increasing. Lisbon’s vacancy rate provides evidence of this good performance, with vacancy rate below %, for the first time, since 2009.

The biggest challenge both cities will be facing is similar and has not changed in the past years: lack of supply! Porto and Lisbon’s pipeline is insufficient. In Porto, office scarcity has been overcome with one-off deals, in areas with little office occupation, suiting the occupiers’ needs; while in Lisbon, pre-let is already predominant, leaving less than 25.000 sqm to the market.

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Gustavo Castro

Head of Porto Office

Porto

Gustavo joined Colliers in 1999 as a Junior Consultant. Gustavo's work was highly appreciated and in 2000 became Senior Consultant. In 2001, Gustavo was appointed head of the Porto office. In 2007 and 2008, he assisted Colliers' local offices in Africa (Mozambique and Angola).

Since 2008, Gustavo is not only responsible for the Porto office but also for the Research Team.

The Research Team has vastly improved their performance, covering several types of properties and periodically monitoring the most important property markets.

You can connect with me on LinkedIn.

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