Office rental down 25%

Demand to rent offices was down 25% on September and October 2021 according to a study by Imovirtual.

The study from the real estate portal was based on data available on its platform and studied the evolution in demand both to buy and to rent offices.
The fall of 25% in the demand to rent offices is accompanied by a general fall of 18% in the demand to purchase offices nationally for September and October on the same period in 2021. Lisbon, Porto and Braga were the district most in demand to rent and buy.
In the case of buying offices, the Top 5 also included Aveiro (+84%) and Coimbra (+55%) which showed an exponential growth in demand on 2021.
On the other hand, Porto (-21%), Lisbon (-37%) and Braga (-2%) saw a decrease, despite the three districts enjoying the greatest demand for offices.
As to office rentals, demand in Lisbon (-12%), Porto (-18%) and Braga (0%) was also down in Setúbal (-1%) and Aveiro (-44%). All of the districts in the Top 5 of the most sought after cities to rent an office experienced a decline in interest in September and October 2022 on 2021.