Portugal Logistics MarketView Q2 2021
August 16, 2021
Strong dynamics pushes prime rents up in the Logistics Sector
- 89,500 sq m of logistic space was occupied in Portugal in Q2 2021, 30% below the previous quarter but a high indicator for Portugal historic levels.
- In Lisbon take-up more than doubled the previous quarter figure recording 75,000 sq m
- The completion of new logistic premises with space available to let, led to a vacancy rate stabilisation at 4.3% in Lisbon
- Prime rent increased in several locations growing to €4/ sq m/ month in Carregado - Azambuja.
- Several logistics sheds are under construction totalling 402,000 sq m in Lisbon and Porto regions, all pre-committed.
- Logistics prime yield continues under downward pressure, decreasing 25 bp, both in Lisbon and Porto, respectively to 5.50% and 6.00%