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Portugal MarketBeat Snapshot Reports

Andreia Almeida • 14/11/2023

According to Moody's Analytics, Portuguese GDP growth will slow down to 2.2% in 2023 and 1.4% in 2024, progressing to 2.2% in 2025. Nevertheless, the country remains as one of the fastest-growing economies in the euro zone. Investment is expected to drop 1.2% in 2023 and to increase 4.7% in 2024. Inflation should ease in the near term, reaching 4.5% in 2023 and 2.6% in 2024. Despite the increase in the unemployment rate to 6.4% in 2023, it is forecasted to decrease to 5.9% in 2024 as the labour market resumes its recovery. 

Get the full Portugal property market picture with all the market data by downloading the reports.

Current Marketbeats

Portugal stadium
Portugal Industrial MarketBeat

In the third quarter of 2023, the industrial & logistics sector in Portugal registered 12 new occupancy deals, encompassing 50,190 sq.m. The year-to-date take-up volume reached 357,950 sq.m, reflecting a year-on-year growth of 9%. From January to September, the average deal size registered a 18% increase, to 7,620 sq.m, and most activity concentrated on the Greater Lisbon (47%) and Porto (31%) regions. The largest deal of the quarter was the pre-let of 15,000 sq.m at the currently under construction VGP Park Montijo by Zolve.


investment card
Portugal Investment MarketBeat

Commercial real estate investment volume for the third quarter of 2023 reached €321 million, contributing to year-to-date figures of €1,053 million and reflecting a year-on-year decrease of 40%.


View across Lisbon towards the Tagus
Lisbon Office MarketBeat

During the third quarter of 2023, the Greater Lisbon office market registered 41 new leases, with a total take-up volume of 34,216 sq.m. The year-to-date figures, which include 113 deals, regard a take-up volume of 73,133 sq.m – the second lowest in the past decade and an expressive year-on-year drop of 71%. Likewise, the average deal size reduced by 58%, to 640 sq.m.


office complex Porto
Porto Office MarketBeat

During the third quarter of 2023, the Greater Porto office sector recorded a total take-up of 15,430 sq.m, distributed over 16 new leases. The year-to-date figures include 48 deals, with a cumulative take-up of 40,615 sq.m, representing a modest year-on-year decrease of 10%. The average deal size registered a slight 5% contraction, to 850 sq.m.


Street roofed with umbrellas, Agueda, Portugal
Portugal Retail MarketBeat

Cushman & Wakefield’s retail take-up recorded 122 new openings in the analyzed quarter, contributing to a year-to-date total of 390 new openings, a marginal 2% year-on-year decrease. High street retail continued to dominate, accounting for 57% of new openings in the third quarter and 64% from January to September. In terms of sectors, the Food & Beverage (F&B) industry remained at the forefront, representing 41% of the new openings during this quarter and 45% in the year-to-date records.



main streets across the world 2023

Main Streets Across the World 2023

In this 33rd edition of Main Streets Across the World, we’ll explore the near-term outlook for the retail sector; headline rent and ranking changes for best-in-class urban locations across the world; key indicators and global main street rankings; and key trends to watch such as the cost-of-living crunch, e-commerce and more.
Street roofed with umbrellas, Agueda, Portugal

Marketbeat Portugal

Marketbeat Portugal analyses the property market activity in depth across offices, retail, industrial, hotels, residential and investment sectors.
Andreia Almeida • 18/09/2023


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