As part of our One Stop Advisor strategy, and supported by the profound knowledge of the commercial real estate market of our Research and Agency departments, today we launch the Outlook Q3 2002, concerning the 3rd quarter of 2022 in the Lisbon Office Market.
In this Outlook we share some relevant data of the Portuguese economy and we make a detailed analysis of the Lisbon Office Market.
The main highlights from the Outlook Q3 2002 are:
• The Portuguese economy should still continue its recovery path in 2022, with a growth of 6.7% as foreseen by the Bank of Portugal. As of 2023, the economic activity is expected to substantially slow down given the macroeconomic context, to 0.7% growth according to the International Monetary Fund.
• The overall take-up volume ascended to more than 247,800 sq.m (+209% YoY) across 162 deals until September, surpassing the historical high of 206,100 sq.m in 2018.
• Offices take-up is expected to slowdown in 2023 after reaching an historical high in 2022, keeping, even though, a good level of demand based on the deals currently in place to be closed next year. Prime rents will still grow in the most central and riverside zones and should stabilize over 2023 in the overall.
If you want to know more and consult the full Outlook Q3 2022 report, download it now in the Research area of our website.