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Offices in Porto: 21,013 sq. mt. occupied in the first four months of 2020

Offices in Porto: 21,013 sq. mt. occupied in the first four months of 2020
Savills · 21 May 2020

The results of the most recent Savills report titled "Lisbon and Porto Office Market” prove that "Porto has not lost attractiveness, as it has been gaining it quite significantly over the past few years. The retraction felt in the allocation of offices is temporary and expectable for the current moment. Note that in Lisbon and other European cities, the behavior has been in line with that of Portuguese cities, with no cause for alarm”, says Rodrigo Canas, Associate at Savills.

The balance for the first four months of the year remains very positive, with an increase of 43% to the total volume of office area transacted compared to the same period last year, now standing at 21,013 sq. mt.

The "CBD Boavista” market area remains in the lead, with a total of 6,713 sq. mt., 42% more than in 2019, having been the only area, alongside other locations outside the city of Porto, which registered an increase in the area traded compared to accumulated between January and April 2019.

Another positive sign of the performance of the Porto office market in 2020, is the increasing transaction of spaces with more than 1,500 sq. mt.