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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@.

Torre Realia Barcelona edificio oficinas

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.

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