Between 2019 and 2023, years that encompass the Covid-19 pandemic, office rental and sales prices rose 26% and +18%, respectively. Store rental and sale prices both grew 19% in the same period.
This data comes from CASAFARI, a real estate services platform, dedicated to professionals in the sector and not a real estate network, which analyzes the market over the last five years.
“According to the data analyzed, rental and sales prices for both have grown, on average, +20% in the last five years. The supply of offices and shops, both for sale and for lease, has also increased nationally, highlighting the office segment whose supply for rent has more than doubled since 2019”, writes consultancy CASAFARI.
The price rises when the number of stores and offices available on the market has also increased. The supply for rent more than doubled, increasing 136%, and sales (+35.7%) of offices also increased, as did the supply of stores for rent (+74.1%) and sale (+33.5% ).
In the case of sales, Lisbon was well above the national average in price with increases of 30% in sales of stores and offices. Madeira was the region where prices grew the most, with stores rising by 42% and offices by 50%.
“The average price at national level grew +19.1%, going from an average value of €1,018.30/m2 in 2019 to €1,213.20/m2 in 2023, with Madeira (+41.6%), Faro (+36.7%) and Lisbon (+30.5%) registering the biggest increases”, reads the assessment made by the real estate consultant.
Only in some municipalities in the interior, such as Bragança, Castelo Branco or Évora, did prices drop for offices.
