According to Moody’s Analytics, Portuguese GDP growth slowed down to 2.3% in 2023. In 2024, it is expected to further decrease to 1.9%, remaining at this level in both 2025 and 2026. Investment grew by 0.8% in 2023 and is forecasted to grow by 4.5% in the current year. After rising to 4.3% in 2023, inflation should continue to decline in the near term, reaching 2.3% in 2024. Despite a slight growth to 6.5% in 2023, the unemployment rate is expected to decrease to 6.2% in 2024.
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Portugal MarketBeat Snapshot Reports
Andreia Almeida • 17/06/2024
Current Marketbeats
Portugal Industrial MarketBeat
In the first quarter of 2024, the Industrial & Logistics sector in Portugal registered 27 new occupancy deals totalling 165,900 sq.m, representing a year-on-year decrease of 16%. This decrease was largely influenced by the unusual volume recorded in the first quarter of 2023, which included two of the top 10 deals ever recorded. Consequently, the average deal size contracted by 41% to 6,100 sq.m. In terms of geographical distribution, activity remained mainly concentrated in the Greater Lisbon and Porto regions, with each accounting for 33% of take-up.
Portugal Retail MarketBeat
Despite no new retail schemes being completed during the first quarter of 2023, the pipeline for the next 3 years continues to reflect increased development volumes of retail parks. Among the forecasted 89,900 sq.m of GLA, 68% is allocated to this segment, such as Nova Vila Retail Park (Portimão) and Ponta Delgada Retail Park. The remaining area is allocated to shopping centers, namely City Center Covilhã and the Centro Colombo (Lisbon) redevelopment and expansion.
MORE INSIGHTS
Research
Our report summarizes real estate market activity in the Porto region.
Andreia Almeida • 24/06/2024
Research • Workplace
Portugal Office Fit Out Cost Guide
Transform your office in Portugal with our Office Fit Out Cost Guide 2024. Embark on optimizing your workspace in cities like Lisbon and Porto today!
Carlos Pueyo • 20/03/2024