Lisbon and Porto continue to grow in the office market
The month of January continues the trend observed in the office market in Lisbon and Porto in recent months. These two cities grew exponentially, with an aggregate occupancy of more than 15,500 m2 of office space, accounting for 21 operations, all for exponential occupancy, according to a report by the real estate consultancy JLL.
Office Flashpoint, a report that analyzes the performance of this sector, in January, recorded 13,300 m2 of occupied area in Lisbon, corresponding to operations, and 2,300 m2 of occupancy in Porto, with six operations.
In both cases, the occupation in January is in line with pre-covid levels and shows exponential growth compared to January 2021, when general confinement was entered.
For JLL’s Head of Leasing Office, Sofiares, “the fact that the entire area negotiated is for immediate tasks is a very encouraging sign for the year ahead and reflects well that the sector is undergoing strong renovation. spaces are occupied, it is a fact, that it may be possible that companies are activated, and that the office is an undesigned body”.
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“At the same time, this dynamic is also a reflection of the confidence of companies in the economy, which also opens up great expectations for 2022. It will be the year of return to pre-pandemic levels”, Sofia Tavares, in a statement.
Lisbon and Porto markets seen under a magnifying glass
In Lisbon, the occupation of offices was marked by “Services to Companies”, which guaranteed 46% of the occupied area, also marked “Other Services”, with 18% of the to assume. Regarding preferred destinations, the Prime CBD (zone 1) added 63% of demand, followed by the Western Corridor (zone 6), with 22% of the occupied area. The average business area was 885 m2, with three operations exceeding 1,000 m2, including the 1,600 m2 of Renault, in Lagoas Park, and the 1,300 m2 of Amorim Luxury Group, in the Eurolex building .
In Porto, occupation in the same month was also boosted by businesses associated with “Business Services”, responsible for 59% of the negotiated area, and by “TMT”s & Utilities”, with 29% of the to assume. CBD Boavista (zone 1), with 46% of the to assume the eastern ones led %, followed by the monthly zone 4, with 42% of the monthly area.
Comparing cities, the average size of operations was much smaller in Porto compared to Lisbon, standing at 390 m2 and with only one business close to 1,000 m2.
The January operations include the acquisition of an area by Mercer Portugal in Mercado do Bom Sucesso and by TD Techdata in Torre Burgo, both areas between 350 and 400 m2.