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Activity in the Lisbon offices market in line with 2015

In the first ten months of 2016, the area of office space included into the Lisbon market reached 110.018 m². Additionally, although the level of activity registered over the course of the year until October has remained 8% below that of the similar period the previous year, JLL estimate that the total of activity in 2015 will end up comparable to that of 2015.

According to Mariana Rosa, Departmental Director at JLL Office Agency, “the year 2016 is maintaining the dynamism of the previous year, and, by the end of the year, we should have totalled assets of between 140.000 and 150.000 m², in line with the occupied area in 2015”. She further explains, “The slightly lower levels in the accumulated yearly results to date are mainly due to the differential generated by two atypical operations registered in the 3rd trimester of 2015, which resulted in the complete occupation of two buildings, in a combined area of more than 21.000 m²”.

According to Office Flashpoint at JLL, 161 office-leasing operations were finalized between January and October in Lisbon, with an average area per transaction of 683 m². During this period, the most active entities regarding demand were in the Services and Business Sector  (34%) and TMT & Utilities (27%), followed by Financial Services (12%). Geographically, the ‘New Zone of Offices”, in the city centre, was the most active (27% of rented area), followed by the Western Corridor and the CBD, with totals of 19% each.