Increased Turnover in Tourism and Real Estate in Lisbon and Porto

24 November 2020The real estate markets in Lisbon and Porto are showing some positive signs as more real estate deals and more tourists have demonstrated increased optimism in the months of September and October.

The data, released by Confidencial Imobiliário and the consultancy JLL, reveal that that businesses leased 11,986 new square metres of office space in Lisbon in October, significantly higher than the previous month and equivalent to a monthly increase of +158%. In Porto, 2,938 m2 of space was leased in three deals, one of which was for more than 2,000 m2.

Just as a greater number of companies are leasing space, the occupancy for Local Accommodations rose in September to an average of around 24% in Lisbon and 26% in Porto, both at a post-April high.

Original Story: Expresso – Vítor Andrade

Translation/Summary: Richard Turner