Coronavirus curbs take-up but rents remain resilient

  • Lisbon take-up plummeted to a mere 18,000 sq m in Q3 2020, recording falls of 56% q-o-q and 49% y-o-y.
  • Relocation was the driver of office activity in the quarter, registering 92% of take-up during this period.
  • The vacancy rate remained quite stable over the previous quarter, at 6.4%.
  • 2020 is likely to record the highest annual addition of office space since 2011 (45,300 sq m).
  • We have not yet seen any relevant impact of Covid-19 outbreak in office prime rents.