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The Rental of Office Space in Madrid Decreased by 50% During Q2

The rental of office space in the capital decreased by 50% to 70,000 square metres in the second quarter but the recovery is expected to begin at the end of the year.

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The office market in Madrid has closed the second quarter of the year with the rental of around 70,000 square metres, half the volume recorded during the same period in 2019, when it amounted to 140,000 square metres, according to data collected by Knight Frank.

However, the future prospects “for this market are positive, since the reactivation is expected to happen during the last quarter of the year and the first few months of 2021,” explain experts from the consultancy firm.

Read the full article in Spanish.

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