Porto Office Market Dynamics, Q1 2026

Porto's office take-up totalled 6,140 sq.m. in Q1 2026, marking a 43% year-on-year rebound, though activity remains below the recent three-year quarterly average.

The quarter's activity was anchored by two deals over 1,000 sq.m., with the top transaction being a 2,230 sq.m. letting to an IT company in the ZEP (zone 3).

The underlying market dynamic remains a shortage of modern, high-quality office space, which limits options for occupiers, although several projects in the pipeline are set to gradually alleviate this pressure.