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Coworking is here to stay

Colliers International published the most recent report and concluded Portuguese real estate remains solid and growing. This is even more important, since 2018 was a record breaking year. Under the reigning optimism, Colliers decided to look into the future and anticipate what the future holds: coworking.

Lisbon and Porto’s office market momentum is hard to match, with several multinationals and start-ups seeking Lisbon and Porto to accommodate headquarters or relocating departments. “Tourism growth supported the expansion of local infrastructures, while driving both cities liveliness, enhancing quality of life and helping to attract and retain talent, all this at an affordable cost, by European standards” highlights Gustavo Castro, director of Research at Colliers International, in Portugal.

With both cities growing and supply struggling to accommodate international demand, space flexibility will always be a solution in the near future and in the present, because Colliers uncovered coworking in the Portuguese market. Although less relevant than in Amsterdam, London or Warsaw, coworking importance, in Lisbon and Porto, is close to EMEA’s average.

Prices remain distant from the EMEA (15% to 20%), but still work: monthly income generated by coworking tops the traditional market by 30% and the price of a coworking desk occupied 8 days in a month equals the traditional market average.