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Office Rentals Fell by Half in Madrid and Barcelona During H1

The rental of office space fell to 131,000 square metres in Madrid and 86,000 square metres in Barcelona during the first half of the year due to Covid-19.

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The rental of office spaces has fallen due to the impact of Covid-19 and the lockdown. The absorption volume during the first half of 2020 amounted to 131,000 square metres in Madrid and 86,000 square metres in Barcelona, according to a report published by Cushman & Wakefield.

In this sense, the average for the first half of the year over the last five years has been 239,000 square metres in Madrid and 180,000 square metres in Barcelona. However, for the time being, availability has not been affected in either city. At the end of the second quarter, Barcelona had an availability ratio of 4% and Madrid of 8.3%, whereby stabilising the ratio registered in the previous quarter.

Read the full article in Spanish.

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