Summary and analysis of Lisbon's current office real estate market conditions.
Insight
Lisbon Office Market Dynamics, Q1 2025
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Office take-up in Lisbon in the first quarter of 2025 totalled 16,260 sq.m., down 78% year-on-year – one of the lowest quarterly volumes since 2020.
The top three deals of the quarter, each exceeding 1,000 sq.m., accounted for 34% of total take-up. The largest lease was recorded by a software development company in Western Corridor for more than 2,500 sq.m. Businesses operating in TMTs & Utilities sector represented the largest share (33%) of the quarter’s absorption.
Despite ongoing demand for high-quality and sustainable office spaces, geopolitical instability and forthcoming national elections limited this quarter's take-up volume.