Portugal's industrial and logistics market recorded occupancy of 229,973 square meters in the first half, representing a record low increase of just 2% compared to the same period last year, justified by the lack of supply in this real estate segment, according to data from the 'Spotlight Industrial & Logistics Market' report by consultancy Savills.
Greater Lisbon concentrated most of the activity with 174,783 square meters of area transacted, the best performance since 2024 in absolute terms, with a historic low of available space. The second quarter concentrated 74% of total volume and logistics grew more than 14% year-on-year, now representing 75% of all occupied area. The region's logistics stock stands at around 3.5 million square meters with a vacancy rate of just 1.8%, reflecting the strong pressure of demand on existing supply.
Conversely, Greater Porto recorded an occupancy volume of 55,190 square meters, a 2% decline compared to the same period last year, with a vacancy rate of just 0.5% in a park exceeding 1.3 million square meters. Valongo was the main demand hub, concentrating 67% of the regional total with 36,885 square meters contracted, resulting from two operations at Panattoni Park Valongo.
Attention is now focused on the pipeline planned through 2027, totaling approximately 69,000 square meters, of which 42% are already pre-let. Alexandra Gomes, Head of Research at Savills Portugal, states that with more than half of the pipeline already committed, increasing pressure on rents and a strengthening of build-to-suit and pre-let solutions is anticipated. Pedro Figueiras, Director at Savills Portugal, highlights that the combination of historically low vacancy rates and the country's geo-strategic position continue to attract national and international operators, considering that the development of new logistics supply represents a necessity to meet demand and increase Portugal's competitiveness.
