Real Estate Market Outlook 2026 Portugal

The Portuguese economy continues to demonstrate a solid and resilient position, supported by a moderate yet sustained growth trajectory, a consistent reduction in public debt, and a reinforcement of the country’s financial credibility.

The outlook for 2026 remains broadly positive, with stable financing conditions and an overall high interest of international and domestic investors. Investment volumes in commercial real estate are projected to reach approximately €2.4 billion (- 11% YoY), within a context of stable prime yields.

In the office occupational market, take-up is expected to remain stable in Lisbon, while in Porto it is projected to increase by 14%. In the logistics sector, take-up is anticipated to rise by 5%. The retail sector continues to record the highest prime rents on record, alongside the highest number of store openings to date. The hotel sector is expected to maintain the strong momentum observed in 2024 and 2025, underpinned by robust tourism growth and the ongoing upgrade and diversification of supply.