Office take-up in Barcelona has registered an increase of 23.6% in the second quarter of 2024, reaching 72,000 square metres, according to Forcadell's latest report. This increase is attributed to several factors, including a favourable macroeconomic situation characterised by stabilising inflation and falling interest rates. In addition, there has been an increase in rental operations exceeding 2,000 square metres, with a total of 15 in this quarter, compared to four in the same period last year.
By areas, the 22@ technology district led in terms of take-up, accounting for 38% of the total number of transactions, followed by the central area with 24% and the CBD with 22%. 22@ was also the area with the highest number of square metres contracted, representing 48% of the total, while together with the NBA + Fira District, they account for 71% of the total number of square metres contracted.
The availability of office space in Barcelona has remained stable, with less than one million square metres available, placing the availability rate at 14.1%. According to Manel de Bes, director of Forcadell's office department, "the data recorded by the sector in the second quarter of 2024 show a more positive trend than in previous quarters, which was also reflected in the first three months of the year".
The report also points out that, despite the fact that 22@ has the highest availability with 41% of the total stock, it has been the area with the highest number of transactions and square metres contracted. In contrast, the CBD has the lowest amount of available corporate space, with 5.62%.
In the areas with the greatest availability, such as 22@ and the periphery, the contracting of plug&play space continues to increase, representing 35% of all deals closed in these areas during the second quarter of 2024. During the first half of the year, there have also been numerous transactions of companies moving from flexible spaces to conventional offices.
In terms of office rents, values remain stable. The conditions offered in areas such as 22@ include grace periods of between six and nine months and cash contributions of between 100 and 200 euros per square metre, while in the periphery, grace periods of up to 12 months can be found. In the CBD, the grace periods range from three to six months, with little or no cash contribution.