About 222,000 square meters of office real estate was sold or sub-leased across the different submarkets in Lisbon, Portugal in the fourth quarter of 2024. Zone 5 (Parque das Nacões) had the highest take-up, amounting to over 72,000 square meters, followed by Zone 3 (New Office Areas) with 47,350 square meters. The annual take-up in Zone 6 (Western Corridor), the market with the most office real estate stock in the city, was notably lower at 29,370 square meters.

Housing Index in Portugal increased to 247.05 points in the first quarter of 2025 from 235.68 points in the fourth quarter of 2024. This dataset provides - Portugal House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about House Prices Growth

• Portugal house prices grew 9.8% YoY in Sep 2024, following an increase of 7.8% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 2010 to Sep 2024, with an average growth rate of 7.6%.
• House price data reached an all-time high of 13.2% in Jun 2022 and a record low of -8.3% in Jun 2012.

Graph and download economic data for Residential Property Prices for Portugal (QPTN628BIS) from Q1 1988 to Q1 2025 about Portugal, residential, HPI, housing, price index, indexes, and price.

In 2023, there were around 1,860 hotel establishments in the continental territory of Portugal. Meanwhile, the autonomous communities of Madeira and Azores accounted for another 249 hotels that year.

The proportion of one-dwelling residential construction in Portugal has grown since 2017, registering a share of 66 percent in 2023. This building type was the most relevant during the period considered, followed by mostly non-residential construction whose relative importance has decreased since 2017. In 2023, this construction type registered its lowest share, at approximately 23 percent.

In Portugal, there were over 11,000 completed housing buildings in new constructions in 2023. Almost 4,200 of them were in Northern Portugal. This region registered the highest values of new constructions for all destinations. The Algarve, the Azores, and Madeira registered the lowest number of completed buildings in 2022.

The investment volume in the commercial property market in Portugal, fluctuated from 2013 to 2024. It can be seen that the volume of commercial real estate investment fell to *** million euros in 2021, down from **** billion euros in 2020. Nevertheless, in 2024 Lisbon experienced one of the highest investment volume at *** billion euros. The coronavirus (COVID-19) pandemic had a major impact on the commercial real estate sector, affecting investment activity across most countries in Europe.

Companies operating in the third-party real estate industry have had to navigate numerous economic headwinds in recent years, ranging from rising interest rates, spiralling inflation and muted economic growth. Typically, estate agents can earn income via fees and commissions charged to clients, which allows them to protect their operating profit margin from property price fluctuations. Revenue is projected to sink at a compound annual rate of 0.6% over the five years through 2025, including an estimated rise of 1.2% in 2025 to €207.6billion, while the average industry profit margin is forecast to reach 35.1%. Amid spiralling inflation, central banks across Europe ratcheted up interest rates, resulting in borrowing costs skyrocketing in the two years through 2023. In residential markets, elevated mortgage rates combined with tightening credit conditions eventually ate into demand, inciting a drop in house prices. Rental markets performed well when house prices were elevated, being the cheaper alternative for cash-strapped buyers. However, even lessors felt the pinch of rising mortgage rates, forcing them to hoist rent to cover costs and pricing out potential buyers. This led to a slowdown in rental markets in 2023, weighing on revenue growth. However, this have started to turn around in 2025 as interest rates have been falling across Europe in the two years through 2025, reducing borrowing costs for buyers and boosting property transactions. This has helped revenue to rebound slightly in 2025 as estate agents earn commission from property transactions. Revenue is forecast to swell at a compound annual rate of 3.7% over the five years through 2030 to €249.5 billion. Housing prices are recovering in 2025 as fixed-rate mortgages begin to drop and economic uncertainty subsides, aiding revenue growth in the short term. Over the coming years, Proptech, which has been heavily invested in, will force estate agents to adapt, shaking up the traditional real estate industry. A notable application of Proptech is the use of AI and data analytics to predict a home’s future value and speed up the process of retrofitting properties to become more sustainable.

House prices in Spain are forecast to fall in 2024, after increasing by 1.2 percent in 2023. Nevertheless, prices are expected to pick up in 2025, with an increase of one percent. The Portuguese housing market, on the other hand, grew by 5.5 percent in 2023, but was forecast to contract in the next two years.

Most of the office real estate stock in Lisbon, Portugal, is concentrated in Zone 6 (Western Corridor) and Zone 2 (Central Business District). Zone 6 (Western Corridor) had about 1.08 million square meters of the total 4.88 million square meters of office real estate in the city in the first quarter of 2025, and it topped the ranking for the highest amount of space sub-let or sold during the year.

The Direct Real Estate Activities industry have come up against numerous headwinds in recent years, ranging from the COVID-19 outbreak in 2020 to the high base rate environment in the years since, which has inflated borrowing costs for potential buyers. This is a sharp contrast to the ultra-low interest environment seen over the decade following the 2008 financial crisis. Still, revenue is forecast to edge upwards at a compound annual rate of 0.6% over the five years through 2025 to €622.9 billion, including an anticipated rise of 0.8% in 2025. Despite weak revenue growth, profitability remains strong, with the average industry profit margin standing at an estimated 18.9% in 2025. Central banks across Europe adopted aggressive monetary policy in the two years through 2023 in an effort to curb spiralling inflation. This ratcheted up borrowing costs and hit the real estate sector. In the residential property market, mortgage rates picked up and hit housing transaction levels. However, the level of mortgage rate hikes has varied across Europe, with the UK experiencing the largest rise, meaning the dent to UK real estate demand was more pronounced. Commercial real estate has also struggled due to inflationary pressures, supply chain disruptions and rising rates. Alongside this, the market’s stock of office space isn’t able to satisfy business demand, with companies placing a greater emphasis on high-quality space and environmental impact. Properties in many areas haven't been suitable due to their lack of green credentials. Nevertheless, things are looking up, as interest rates have been falling across Europe over the two years through 2025, reducing borrowing costs and boosting the number of property transactions, which is aiding revenue growth for estate agents. Revenue is slated to grow at a compound annual rate of 4.5% over the five years through 2030 to €777.6 billion. Economic conditions are set to improve in the short term, which will boost consumer and business confidence, ramping up the number of property transactions in both the residential and commercial real estate markets. However, estate agents may look to adjust their offerings to align with the data centre boom to soak up the demand from this market, while also adhering to sustainability commitments.

Residential property prices in Portugal continued their strong growth in 2019, increasing by more than ***** percent year-on-year at the end of the year. An improving economy and low interest rates caused house prices in the Iberian country to grow since the end of 2014. For 2020, the original outset was that this trend would continue. Whether this has indeed happened, despite the coronavirus pandemic, is unclear as this figures are not yet available for Portugal.

Comprehensive dataset of 585 Real estate developers in Portugal as of July, 2025. Includes verified contact information (email, phone), geocoded addresses, customer ratings, reviews, business categories, and operational details. Perfect for market research, lead generation, competitive analysis, and business intelligence. Download a complimentary sample to evaluate data quality and completeness.

Forecast: Employment in Real Estate Activities Sector in Portugal 2024 - 2028 Discover more data with ReportLinker!

Comprehensive dataset of 99 Commercial real estate agencies in Portugal as of July, 2025. Includes verified contact information (email, phone), geocoded addresses, customer ratings, reviews, business categories, and operational details. Perfect for market research, lead generation, competitive analysis, and business intelligence. Download a complimentary sample to evaluate data quality and completeness.

In Portugal, the hospitality sector was responsible for the largest share of real estate investment in 2022, at ** percent. In the following year, hospitality continued to be the most relevant sector, with ** percent of investment, but it was followed by retail, with ** percent. In 2024, it was retail with the highest investment share, at ** percent.

Portugal Foreign Direct Investment Position: Inward: % of Total (FDI) Foreign Direct Investment: Total: Real Estate Activities data was reported at 8.592 % in 2023. This records a decrease from the previous number of 8.841 % for 2022. Portugal Foreign Direct Investment Position: Inward: % of Total (FDI) Foreign Direct Investment: Total: Real Estate Activities data is updated yearly, averaging 6.349 % from Dec 2005 (Median) to 2023, with 19 observations. The data reached an all-time high of 9.222 % in 2021 and a record low of 2.384 % in 2006. Portugal Foreign Direct Investment Position: Inward: % of Total (FDI) Foreign Direct Investment: Total: Real Estate Activities data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Portugal – Table PT.OECD.FDI: Foreign Direct Investment: % of Total FDI: by Industry: OECD Member: Annual. Reverse investment: Netting of reverse investment in equity (when a direct investment enterprise acquires less than 10% equity ownership in its parent) and reverse investment in debt (when a direct investment enterprise extends a loan to its parent) is applied in the recording of total inward and outward FDI transactions and positions. Treatment of debt FDI transactions and positions between fellow enterprises: directional basis according to the residency of the ultimate controlling parent (extended directional principle). FDI transactions and positions by partner country and/or by industry are available excluding and including resident Special Purpose Entities (SPEs). The dataset 'FDI statistics by parner country and by industry - Summary' contains series excluding resident SPEs only. Valuation method used for listed inward and outward equity positions: Market value. Valuation method used for unlisted inward and outward equity positions: Own funds at book value. Valuation method used for inward and outward debt positions: Market value, Nominal value.; FDI statistics are available by geographic allocation, vis-à-vis single partner countries worldwide and geographical and economic zones aggregates. Partner country allocation can be subject to confidentiality restrictions. Geographic allocation of inward and outward FDI transactions and positions is according to the immediate counterparty. Intercompany debt between related financial intermediaries, including permanent debt, are excluded from FDI transactions and positions. Direct investment relationships are identified according to the criteria of the Framework for Direct Investment Relationships (FDIR) method. Debt between fellow enterprises are completely covered. Collective investment institutions are not covered as direct investment enterprises. Non-profit institutions serving households are covered as direct investors. FDI statistics are available by industry sectors according to ISIC4 classification. Industry sector allocation can be subject to confidentiality restrictions. Inward FDI transactions and positions are allocated to the activity of the resident direct investment enterprise. Outward FDI transactions are allocated according to the activity of the resident direct investor. Outward FDI positions are allocated according to the activity of the resident direct investor. Statistical unit: Enterprise.

In Portugal, retail real estate prime yield increased the most during the observed period for shopping centers. In 2018, the prime yield stood at five percent, and by 2024, it had grown to six percent. High street retail real estate also grew from **** percent in 2019 to five percent in 2024. Retail park prime yield was the most stable, measured at ***** percent in 2023 and 2024.

In Portugal, the amount of new loans for residential properties with a variable interest rate indexed to 12-month Euribor has decreased during the period considered. In January 2022, the volume amounted to ***** percent, while, in April 2025, it stood at ***** percent. The lowest figure was registered in December 2022 at ***** percent.