According to Moody’s Analytics, despite the slowdown in 2024 Portugal will remain a top performer in the euro zone, with GDP growing by 1,7%, followed by slight increases over the next two years (1,8% in 2025 and 2,0% in 2026). Private consumption is projected to stabilize at 1,6% until 2025, dropping to 0,5% in 2026. The inflation rate is anticipated to continue decreasing, reaching 2.2% in 2024 and falling below the 2,0% target in 2025.
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Portugal MarketBeat Snapshot Reports
Andreia Almeida • 06/11/2024
Author
Current Marketbeats
Portugal Industrial MarketBeat
During the third quarter of 2024, the Industrial & Logistics sector recorded 16 new
occupancy deals totalling 97,870 sq.m, The accumulated take-up volume for the first
nine months of 2024 reached 513,420 sq.m, 19% above the annual 2023 volume,
representing a year-on-year (YoY) increase of 36%. Consequently, the average deal
size reached 7,900 sq.m during this period. Regarding the geographical distribution of
demand, the third quarter's activity was mainly concentrated in Greater Porto (47%)
and Greater Lisbon (41%) areas .. The largest deal of the quarter was the pre-let of
16,000 sq.m at the currently under construction Panattoni Park Valongo by Aldi.
Portugal Investment MarketBeat
Commercial real estate investment reached €357 million in the third quarter
of 2024, contributing to a total volume up to September of €1,036 million,
representing a 2% rise when compared to the same period in 2023.
Lisbon Office MarketBeat
The Greater Lisbon office market registered 48 new lease deals in the third quarter
of 2024, with a take-up of 48,900 sq.m. The year-to-date figures, which include 130
deals, regard a take-up volume of 168,500 sq.m, representing a year-on-year growth
of 134% - the second highest in the last decade.
Porto Office MarketBeat
During the third quarter of 2024, the Greater Porto office market registered 13 deals,
with a take-up of 30,280 sq.m. The year-to-date volume stood at 58,650 sq.m, 44%
above the same period in 2023 (40,620 sq.m).
Portugal Retail MarketBeat
During the third quarter of 2024, there were no new completions in the retail
schemes' market. Nevertheless, the pipeline for the next three years
indicates that an additional 143,200 sq.m. of GLA will be completed, almost
half of which is under construction. Developers remain committed to retail
parks, which attracts most of this new supply (87%).
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