Rental market - offices

Barcelona – Rental Market

Take-up in the Barcelona office market set a new record this third quarter with 101,000 sqm signed (301,000 sqm of office space to date this year). The vacancy rate stood at 9% and below 4% in the CBD. The lack of quality space, coupled with strong demand, continue to drive up rents, positioning prime rent at €25/sqm/month, an increase of +7% so far this year.

Sources: Reports by Jones Lang Lasalle, Cushman & Wakefield, CBRE & Savills.

Madrid– Rental Market

In the Madrid office market, more than 140,000 sqm was signed in Q3 2018, a +38% y-o-y increase, the highest quarterly take-up registered in the past decade. More than 400,000 sqm of office space has been signed so far this year. The vacancy rate stands at below 10% in Madrid. At the close of the third quarter, the prime rent in Madrid stood at €34/sqm/month.

Paris – Rental Market

In the Paris office market, take-up during Q3 2018 reached a total of 1.9 million sqm, a +6% y-o-y increase. Available office supply fell below 3 million sqm, reaching low vacancy rates. In the CBD area, the vacancy rate stood at 1.5%, an all-time record low. Prime rents continue to rise, reaching levels above €800/sqm/year.