Portugal commercial property prices rose 10.1% in 2025

Commercial property prices in Portugal rose 10.1% in 2025, more than double the 4.7% increase recorded a year earlier and the fastest pace since at least 2009, according to data published by the national statistics office INE. The jump matters for investors and companies because it points to sustained price pressure across the country’s real estate market, beyond housing.

INE’s Commercial Property Price Index, which covers shops, offices and warehouses, reached 156.25 points in 2025, up from a base of 100 in 2015. Over the past decade, commercial property prices increased by 56.25%, equivalent to an average annual rise of 4.6%.

The increase was driven in part by the same factors affecting residential real estate: rising demand in a market with limited supply. Even so, housing continued to outpace commercial assets, with Portugal’s house price index rising 17.6% in 2025, 7.5 percentage points more than the commercial property index.

Price growth accelerated through all quarters of 2025 in both segments. For properties bought by companies, annual price growth started at 5.0% in the first quarter, jumped to 17.9% in the second quarter and stayed above 15% for the rest of the year.

Originally published at Eco.pt