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9,400-M2 Offices Leased in Lisbon as New Year Takes Off
12 February 2019
Despite the figure, there was a residual decrease of around 3% compared to the same period of 2018.
January 2019 saw 9,400 square meters of office space leased, according to Savills Portugal. In a statement issued on Tuesday, the real estate consultancy revealed the existence of 12 operations, six fewer than in the same month in 2018, a decrease of 33%.
Zone 2, which consists of the region formed by Avenida da República, Avenida Duque de Loulé and the Amoreiras area, was the area with the best performance, with a total of 5,494 square meters of offices taken up. A deal by Savills Portugal contributed 3,579 square meters to that total.
“The year 2019 is beginning with a slight attenuation in market activity, one which was foreseen due to the lack of supply in the market, which will impact the results for this year. Nevertheless, there were three operations above 1,000 square meters, which led to a list of operations mostly dominated by offices below 500 square meters,” said Alexandra Portugal Gomes, an analyst in Savills Portugal’s research department.
Original Story: Jornal Econômico – Rodolfo Alexandre Reis
Translation: Richard Turner