Barcelona’s office market beat rental records in 2019 with 1.822 billion euros in investment according to the “MarketBeat Offices Barcelona” report from Cushman and Wakefield. Likewise, 402,000 m² in office space was rented, 4% more than in 2018 and 10% above the mean in the past 5 years. Furthermore, rentals of flexible spaces are gaining ground in Barcelona and now account for 20% of all office space rented, as opposed to 11% in 2018.
By zones, the New Business Areas are the home to a whopping 54% of the area rented, while the Periphery accounts for 22% and the remaining 24% is in the City Center and the CBD (Central Business District), which reveals the lack of availability in these highly sought-after zones.
An increasingly small amount of space is available, with the availability rate under 4.5%. Barcelona currently has 283,000 m² in office space, but only 43,000 m² is in the City Center, which is just a 1.7% vacancy rate. In the CBD, less than 3% of the office space is vacant.
SOURCES
“Marketbeat Oficinas Barcelona” de Cushman Wakefield