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Offices Recover Their Pulse in Madrid & Barcelona And Look Set to Close the Year with the Pandemic Firmly Behind Them

BNP Paribas Real Estate's sector report for the third quarter of 2022 reflects a strong outlook for the two giants of the segment.

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The battle between Madrid and Barcelona in the office market is as old as the market itself. Broadly speaking, now that the third quarter of the year has come to a close, the first conclusion is “the strong performance” that both cities are enjoying. According to the latest sector report from BNP Paribas Real Estate, “demand continues to consolidate its high dynamism and the availability rate continues to decrease”. Despite concerns during the pandemic, the return to the office is a fact of life in Spain’s business epicentres.

Unsurprisingly, the real estate consultancy ranks the office sector as the one that has attracted the most investment in 2022, with notable operations in both cities. Therefore, “the year-end outlooks for the two cities are positive, with strong dynamism that isn’t losing pace, and even approaching space leased figures that have not been seen since before 2020.”

Read the full article in Spanish.

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