Business interest in Porto has skyrocketed in the last 2 years

The search for an office space has skyrocketed in the past two years in Porto. This is the conclusion of a full study report from Cushman Wakefield / Predibisa regarding office market demand.

According to the document, Porto has become a hot spot for technological companies and by 2014 the demand was mostly domestic and, since that year, the international demand for office space in Porto real estate market has increased on a consistent basis, both for technological and financial companies.

Porto has a lot to offer: the river, the historic centre, the ocean. It's got a thriving gastronomy and wine scene, an escalating tech sector and mild weather.

As far as connectivity is concerned, the city provides a balanced transport system: the train, the bus, the metro network, the nearby airport.

Rui Moreira, Mayor of Porto, recalled that according to the Financial Times' "fdi Intelligence" reference publication, Porto is among the three best cities to invest in South Europe. 

"This is not surprising, given the competitive advantages the city has to offer in terms of strategic location, talent and quality of its workforce, its R & D and innovation network, its high-quality infrastructure, competitive costs and its extraordinary quality of life", the Mayor added.

In 2013, renting an office in Porto would cost an average 187.25 euros per square meter per year, or 15 euros per square meter per month, including rent, condominium and maintenance expenses. 

"These are the cheapest offices in the world," Rui Moreira stated. According to a study by an international consultant, Porto ranked 124th out of 126 locations considered. In other words, renting an office in Porto is cheaper than renting an office in Hanoi, Athens or Guadalajara, Mexico.

The Mayor also affirmed that "fortunately, the strategy of leveraging the image of the city through tourism, allowing the city to be known to the world, begins to bear fruit by appealing to companies that seek the strategic location of the city and especially its high-class resources, which emanate from the University of Porto and the Polytechnic of Porto".

"Regarding the areas of economic development and investment attraction, the municipality focused on creating both an ecosystem and a competitive business environment that would foster a new economic dynamic in the city of Porto, capable of attracting large investment projects and also promoting job creation" explained Rui Moreira.

Of the overall investment projects in 2016, 13 have already been established in the city and 42 other are in the implementation or negotiation phase", concluded the Mayor.