Portugal ranks 1st country with the highest increase of occupancy rates
- Valerie Charoux
- Sep 6, 2024
- 1 min read
Updated: May 4
Portugal news - Portugal ranks 1st EU country with the highest increase of real estate occupancy rates, reaching 139.3%, according to the Savills European Occupier Market report 2024.
Real estate leasing activity has recovered with occupancy rates in Portugal, the UK and Poland registering increases of 139.3%, 120.7% and 55.8%, respectively. The majority of European markets have experienced annual growth in take-up even as they largely remain below their five-year averages, with the exception of Portugal.
Savills has noted an uptick in enquiries from manufacturing, automotive and food production occupiers across Europe. This may form part of much discussed onshoring trends, although evidence remains limited. Notably, these enquiries are focused on Grade A space, in order to facilitate greater levels of automation of their facilities, which should drive greater levels of take-up amongst Grade A industrial real estate stock.
On an annual basis, Venlo in the Netherlands has seen the greatest increase in prime rents, increasing by 21.4%, followed by Lisbon (+17.6%), Rotterdam (+15.8%) and Schiphol (+15.8%), that have all seen significant annual growth in rents.
