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Office leasing on the rise in Lisbon
Office leasing on the rise in Lisbon
July 06, 2010In Q1, the figure has increased by 8.4%, compared to the preceding quarter.
In comparison to Q1 2009, the volume of office space leased in Portuguese capital has surged by 63.9%, according to a report recently published by CB Richard Ellis.
Despite the noticeable increase in tenants’ activity, the market remains volatile. Thus, over Q1, not even a single commercial property investment deal was signed in Lisbon.
The increasing volume of new offices has pushed up vacancy rates - from 10% in Q4 2009 to 10.5% in Q1 2010.
Over January-March, rents have remained at a stable level of €11.5-15.5 per a sq. m. per month.
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