Office rentals in Barcelona up 20% in 2018

Office rentals grew by 20% in Barcelona in the first quarter of 2018, compared to last year, to a total of 94,000 square meters. The figures come from the real estate consultancy, Cushman & Wakefield, and they also suggest that the number of office rentals in the Catalan capital is now 17% higher than the quarter average for the past five years.

The consultancy’s figures also show that some 7% of new rentals were for spaces over 2,000 square meters. Meanwhile, some 47% of new rental contracts were signed in new business areas, such as in the WTC Almeda business park, which accounted for 12% of all the new rented office space.

Barcelona’s high-value commercial area around Passeig de Gràcia, the Diagonal avenue, and the city center accounted for 37% of new office rentals in the first quarter of this year. However, 16% of the new contracts were also in peripheral areas of the city.

Meanwhile the price of so-called prime office real estate stood at 24 euros per square meter in the first quarter, some 9% more expensive than in the same period last year.