What is the average Class A rent in Lisbon?

Around 28 EUR/sqft/yr ($30 USD) across the broader Class A index. Trophy submarkets like Avenida da Liberdade command 20–40% above that.

How many months of rent-free are normal in Lisbon?

4 months on a 5-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.

Are rents rising or falling in Lisbon?

The Lisbon Class A market is currently rising. Vacancy is 7.8%, which sets the negotiating context.

Headline Class A rent in Lisbon is around 28 EUR/sqft/yr ($30 USD), with 4 months of typical rent-free on a 5-year term.

Headline Class A rent: 28 EUR/sqft/yr ($30 USD).
Trophy submarket rents (Avenida da Liberdade) push to roughly €32/sqm/mo · ≈ $38.5 PSF/yr USD.
Typical concessions on a 5-year deal: 4 months free rent.
Vacancy stands at 7.8% — market trend is rising.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Lisbon Class A office rents and incentives

Headline Class A rent in Lisbon is around 28 EUR/sqft/yr ($30 USD), with 4 months of typical rent-free on a 5-year term.

TL;DR

Headline Class A rent: 28 EUR/sqft/yr ($30 USD).
Trophy submarket rents (Avenida da Liberdade) push to roughly €32/sqm/mo · ≈ $38.5 PSF/yr USD.
Typical concessions on a 5-year deal: 4 months free rent.
Vacancy stands at 7.8% — market trend is rising.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Headline rent vs. effective rent

Asking rents in Lisbon are quoted in EUR per sqft per year. Across the broad Class A index the figure is 28, but the trophy tier in Avenida da Liberdade reaches roughly €32/sqm/mo · ≈ $38.5 PSF/yr USD. Always discount headline rent by the present value of free rent and fit-out-capex">tenant improvement allowance to land on effective rent — the only number that compares cleanly across deals.

Rent-free and TI

Standard Lisbon concessions on a 5-year Class A lease run to 4 months of base-rent abatement. Trophy lease-ups can push rent-free 25–40% above that benchmark. Local cost-of-occupancy is also shaped by tax — 21% Portuguese corporate income tax (IRC) plus municipal surcharge of up to 1.5% plus state surcharge for large profits. IFICI regime for inbound qualifying talent provides reduced personal income tax.

Where rents land by submarket

Avenida da Liberdade sits at the top end (~€32/sqm/mo · ≈ $38.5 PSF/yr USD). Parque das Nações clears around €26/sqm/mo · ≈ $31.3 PSF/yr USD as the prime tier. Oeiras & Cascais Corridor represents the value end at ~€22/sqm/mo · ≈ $26.5 PSF/yr USD. The full submarket map is on the Lisbon city page.

Key facts

city	Lisbon
country	Portugal
region	EMEA
classARentLocal	28 EUR/sqft/yr
classARentUsd	$30/sqft/yr
vacancy	7.8%
typicalLeaseYears	5
typicalRentFreeMonths	4
submarkets	5
primeYieldPct	5.4%
trophyRent	€32/sqm/mo · ≈ $38.5 PSF/yr USD
primeRent	€26/sqm/mo · ≈ $31.3 PSF/yr USD

Frequently asked questions

What is the average Class A rent in Lisbon?: Around 28 EUR/sqft/yr ($30 USD) across the broader Class A index. Trophy submarkets like Avenida da Liberdade command 20–40% above that.
How many months of rent-free are normal in Lisbon?: 4 months on a 5-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.
Are rents rising or falling in Lisbon?: The Lisbon Class A market is currently rising. Vacancy is 7.8%, which sets the negotiating context.

Editorial provenance

Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

Full sources index · Submit a correction