Office occupation in Porto increased by 38% despite the pandemic

Not even the pandemic stopped Porto's business and economic dynamics, as proved by the numbers of demand for offices in the city: in the first half of this year, the volume of occupation increased by 38% with two thirds of the deals involving multinational companies.

The comparison with data from the first half of 2019 is illustrative. The office market in Greater Porto registered a 38% increase in occupancy volume, with a total of 28,381 square meters of offices.

According to the data collected in the OnOffice report, prepared by the real estate consultant Predibisa, the growth dynamics of the office market in the city was little affected by the uncertainty of the pandemic. Despite a smaller number of registered transactions (4% less, in a total of 24 deals), the average value contracted per operation increased to 1,183 m2. This variation was positively influenced by four operations above 3,000 m2.

The same report also clarifies that two thirds of transactions closed until June involved multinational companies. Of these, 38% concern the installation of new companies in the region, which serves to confirm Porto's growing attractiveness in the international business area.