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Office Take-up Rises in Madrid and Barcelona in the Third Quarter

Barcelona has shown greater relative strength, demonstrating the market’s buoyancy in the city, backed by the multitude of operations in 22@.

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According to a report on office take-up by Cushman & Wakefield, demand for office space in Madrid and Barcelona increased by 22% and 54%, respectively, in the third quarter.

In July, August and September, companies leased 92,000 square metres of office space in the capital. The figure is 8% more than in the previous quarter and 22% more than the average for the entire pandemic.

According to the consultancy firm, the area outside the M-30 is regaining interest, with a 70% growth in demand. Interest in Class A complexes continues to be strong, accounting for 40% of take-up.

In 2021, 205 contracts were signed, while there were 195 in the twelve months the previous year. The average prime rent also held stable at 33.75 euros per m2 per month.

Read the full article in Spanish


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