Rental market - offices

Barcelona – Rental Market

The take-up in the Barcelona offices market was 232,000 sqm in 2023. The CBD to 14% of the demand, which, together with limited availability of stock (5%, 0.5% for Grade A buildings) resulted in an increase in prime rents to €28.50/sqm/month

Barcelona Rental Market

Madrid– Rental Market

The demand in the Madrid offices market reached 389,000 sqm in 2023. Regarding market occupancy, worth highlighting is the increase in the gap between the central and peripheral markets. Although the total market vacancy increased 41 bps compared to 2022, reaching 11.6%, the vacancy rate in the CBD and City Centre decreased from 4.7% to 3.5%, respectively (1.7% and 0.3% for Grade A buildings). Approximately 85% of the available office space in Madrid is outside of the M-30. Prime rents increased to €40/sqm/month.

Madrid Rental Market

Paris – Rental Market

In the Paris office market, take-up in 2023 reached 1,932,000 sqm. The CBD and City Centre represented approximately 52% of the market absorption, reaching 1,000,000 sqm. This figure, although slightly lower than that of 2022, is in line with the average over the last 10 years. Likewise, the vacancy rate in the CBD remains low at 2.5%, with Grade A availability at 0.3%. Prime rents for the best buildings in the CBD stood at €1,070/sqm/year.

Paris Rental Market

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