Lisbon among the best performing office markets — idealista/news
The occupation of european office spaces is 9% above the five-year average between the first and third quarters, according to the latest Savills analysis, taking into account the year-to-date (YTD) average. Lisbon it is among the top places in the table of the best performing markets, registering a variation of +111% compared to the five-year average of the same period.
the occupation of european workers 2.1m m2 during the last quarter, in line with the five-year average of the third quarter, refers to the international real estate consultancy.
“The average availability rates in the offices rates increased from 7.3% to 7.5% during the third quarter of 2022, but vacancy rates in core markets remain generally below 5%, including the CBD area of Paris, Berlin and Cologne”, comments Mike Barnes, Associate Director, Commercial Research at Savils.
The official adds that “the average income of european prime jobs increased by 5.5% following a shortage of rent from quality stock available in core markets”, and expects “further growth through 2023 as occupiers compete for the best space”.
“2022 will be marked by a high occupancy volume that will reach a record value, greatly driven by the closure of pre-lease and owner-occupier operations, which prove the competitive race that currently exists for the best spaces that are still scarce. The Prime Income
stands at 26 euros/mtwo/month, confirming its consistent upward trajectory, accompanying the entry of new high quality projects and hot demand”, says Alexandra Portugal Gomes, Head of Research & Communications at Savills Portugal.