Summary and analysis of Porto's current office real estate market conditions.
Insight
Porto Office Market Dynamics, Q1 2025
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Office take-up in Porto in the first quarter of 2025 totalled 2,800 sq.m., down 84% year-on-year – one of the lowest quarterly volumes since 2020.
The top three deals of the quarter accounted for 52% of total take-up. The largest lease was recorded by a global logistics service provider company in the ZEP submarket (z3) for 745 sq.m.. Nevertheless, businesses operating in Financial Services sector represented the largest share (46%) of the quarter’s absorption.
Despite ongoing demand for high-quality and sustainable office spaces, geopolitical instability and forthcoming national electionslimited this quarter's take-up volume.