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Madrid & Barcelona Will Increase Their Current Stock of Offices by 367,000 m2

Over the next 12 months, the Spanish capital will add 157,000 square metres of office space to its current stock; whilst the Catalan capital will increase its supply by 210,000 square metres.

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The office segment closed the year with 300,000 square metres of new space leased in Madrid and 177,000 square metres in Barcelona, which represented a decrease of 50% and 55%, respectively, compared to 2019, according to data from Cushman & Wakefield.

Although the Covid crisis has significantly harmed the office sector and we are going to have to continue to live with the pandemic during 2021, demand for office space is expected to increase in Spain this year so that by 2022 “a recovery will begin that will see rental demand return to levels that are in line with the historical average”, explained the consultant.

Read the full article in Spanish.

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