Property upwards path will continue, but at a slower pace

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After a record breaking year, it is not easy to anticipate the following year. The first months of 2019 already show a slight slowdown, both in office occupation and property investment. Colliers International, in the most recent report, tells you what happened, but, especially, what you can wait from 2019.

In 2018, Portugal’s property investment reached a new high, Porto’s office take-up broke the previous record and Lisbon’s office take-up recorded the highest absorption in the past 10 years. Up to this date, property investment is close to 400 million euros, slightly slowing down from last year, albeit with some important deals still not closed. “It is not likely that Portugal can, consistently, keep investment close to 4 billion euros. However, it is possible, under a stable economic, financial and political outlook, to reach above the 2 billion euros, the investment threshold” says Gustavo Castro, Colliers International head of Research, in Portugal. “International investors continue to consider Portugal in their decision making, especially investors with portfolios below 500 million euros” continues Gustavo Castro.

In the office market, the lack of modern supply is old news. In 2019, 100.000 m² of new office space will enter the markets of Lisbon and Porto, “but both cities momentum is highlighted by the fact that more than 60% of that stock is already pre-let or owner occupied” informs Vasco Carvalho, consultant at Colliers International.

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Property upwards path will continue, but at a slower pace

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Joaquim Chambel

Managing Director


Prior from joining Colliers, Joaquim was a director in RAR Imobiliária - a property company - managing its property portfolio and the property development arm of the firm, engaging in land negotiation, project definition, construction contract and construction control, marketing and sales. Developments started and finished under his tenure amounted to 220 million euros sales figures.

He then joined Colliers in 2004. Within these last years the company has grown more than threefold (prior to the financial crisis) and expanded its staff by 2. The company is primarily focused on professional services and is also active in transactional services. Joaquim is also the responsible for the opening and supervision of the office in Angola, which started operations in mid 2009.

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Gustavo Castro

Head of Porto Office


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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