Lisbon and Porto Office Markets Show Strong Growth in Q2 2025, MVGM Reports
A new report from the European property management company MVGM has detailed significant dynamism in Portugal's office market for the second quarter of 2025, highlighting Lisbon's stability and a notable surge in property values in Porto. The findings underscore growing investor confidence in Portugal's two largest cities as strategic hubs for commercial real estate.
The study indicates that Lisbon's office market continues to be a primary target for investors, with the average sales price reaching €2,800 per square meter. This figure represents a 6.7% increase compared to the same period last year and a substantial 23% rise over the previous quarter. The rental sector in the capital remained stable, with average asking prices at €18.7 per square meter, showing a slight annual growth of 4.3%.
Filipa Moreira, Head of Offices at MVGM Portugal, commented on the findings, stating, “The office market in Lisbon continues to attract visitors, tourists, and investors, sustained by a stable demand and a quality supply. These indicators reflect the confidence in the sector and the competitive positioning of the Portuguese city face a outras capitais europeias.”
In Porto, the report highlights a marked increase in investor interest, especially within the city's prime zones. Over the last twelve months, sales prices for office spaces in these areas have appreciated between 12% and 15%. The city-wide average sales price settled at €2,436 per square meter, which is a 15% year-over-year increase and a 4.6% quarter-over-quarter gain. In contrast, the rental market in Porto experienced a minor adjustment, with the average cost decreasing to €14.8 per square meter, a 2% drop annually, which the report attributes to a natural balancing of supply and demand.
“We are witnessing a natural maturation of the office market in the Invicta city,” concluded Ms. Moreira, referring to Porto. “The appreciation in buying and selling is notorious, especially in the most attractive locations, while the rental market reveals a phase of adaptation.” The analysis by MVGM confirms the strong position of both Lisbon and Porto within the European real estate investment landscape, attracting sustained interest from both domestic and international investors. Stay informed on Lisbon property market developments at realestate-lisbon.com.
