Rental market - offices

Barcelona – Rental Market

Take-up in the office market in Barcelona was low and stood at 68,000 sqm in the first half of 2020. This figure reflects the scarcity of product in the market together with a temporary cease in demand due to the COVID-19 crisis. The vacancy rate was at 2.3% in the CBD as of 03/20. Rents remained stable, due to a lack of quality space, positioning prime rents at €27.5/sqm/month.

Madrid– Rental Market

During the first half of 2020, 148,000 sqm were signed in the office market in Madrid. This figure is lower than that of the previous year due to the COVID-19 crisis. The vacancy rate as of 03/20 in Madrid was 8.1%, with a vacancy rate in the CBD of 4.2%. At the close of the first half of 2020, prime rents in Madrid remained stable, to stand at €36.5/sqm/month.

Paris – Rental Market

In the office market in Paris, take-up in the first half of 2020 was 667,500 sqm, an historic low. The COVID-19 crisis and the subsequent slowdown of activity have had a considerable impact on these figures. In the CBD, the vacancy rate was 1.6% as of 03/20, at historically low levels. Prime rents stood at €870/sqm/year, a figure slightly higher than that of the previous quarter.