Brief

Portugal Offices Service Charges 2022

December 12, 2022

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Following the work carried out in the previous year, we present our service charges benchmark for office buildings. We concluded that the average cost of the approved Service Charges Budgets for 2022 was €2.72/sqm/month, an increase of 2.7% compared to 2021. We estimate a much higher average growth in 2023, between 7% and 10%, mainly due to the impact of the increase in electricity cost, the national minimum wage and consumer price index.