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Take-up of Office Space in Barcelona Rises while Stagnating in Madrid in the First Half of 2021

According to Cushman & Wakefield, 138,000 square metres were taken up in Barcelona and 145,000 square metres in Madrid.

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Office space take-up in Barcelona increased by 51.6% and fell by 2.68% in Madrid during the first half of 2021. Prime rents continued to fall, down by 5% to €33.75/m²/month in Madrid and €27.25/m²/month in Barcelona.

In the first six months of the year, 145,000 m2 offices were contracted in the capital, 4,000 m2 less than in the same period in 2020. On the other hand, 138,000 sq m were taken up in Barcelona, 47,000 m2 more than in the year before.

Office investment

Investment in the office sector fell by 48% in 2020. Two billion euros were invested, compared to the 3.84 billion euros in 2019. According to Knight Frank, rents should go up by 20% to 25% by year-end.

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