While YTD take-up saw a 29% decrease compared to a record 2024, to 374,900 sq.m., it remains aligned with the recent four-year average, with the Greater Lisbon region accounting for 57% of the total.

Prime rents, having been revised upwards in Q1, have held firm across key submarkets, namely at €6.75/sq.m./month in Oeiras-Cascais (Z9) and €6.50 in Amadora-Odivelas (Z6).

The market outlook is shaped by a structural undersupply of modern logistics space, which is failing to meet robust demand from third-party logistics (3PL) providers and manufacturing firms.