Lisbon office market registers less deals but larger areas

  • Take-up was 40,500 sq m, 17% lower than the quarterly average in 2019 and around half the number of deals.
  • Relocation accounted for a relevant 85% of the occupied area.
  • Vacancy rate increased 0.7 pp to 6.3% in Q2 2020, but it does not yet reflect the impact of the coronavirus crisis in the reduction of areas.
  • Completions foreseen for this year comprise 61,750 sq m, an area that doubles the last decade annual average. However, 46% is already committed.
  • No changes were observed in prime rents.