The office market in Barcelona has achieved excellent contracting figures in 2017, which exceed the closure forecasts and which places the absorption at levels above the average of the last ten years (290,00m2 ). According to Cushman & Wakefield, at the end of year recruitment l of land for offices has increased by 7% compared to 2016 with a total of 343,000 m 2.
The main operations of the year include the pre-rent by WeWork , in the 22 @ district , of 6,500 m 2 in the Luxa building and the transfer from Esteve to Torre Marina in Zona Franca, where they will occupy about 12,000 m2 , between others.
Of the total of 395 operations signed in 2017, 9% corresponds to contracts above 2,000 m 2 . The average area contracted in Barcelona is 900 m², while the average surface area of more than 2,000 m² is around 4,500 m².
Most of the operations (62%) were signed in the Centre and the new areas of Usiness, the latter being the most demanded by the company s looking for more space, and to demand for spaces of quality in recent months has been clearly reflected in the closing figures. On the other hand, the pre-rental operations have been the protagonists, with 9% of the total of the area contracted in 2017, even registering space expansions of this type.
The supply available in Barcelona at the end of the third quarter of the year keeps the downward trend, with an availability rate below 7.5%. The empty square meters add up to 432,000 m², 7% down on the previous quarter and 18% on the close of the previous year. In the Passeigde Gracia / Diagonal and entered in the city, the unemployment rate is less than 5%. In the new areas of Business this indicator is at 13%, while the suburbs, although it has decreased considerably in the last year, remains above 17%. Over the next 18-24 months 200,000 m² willbe added to the stock of offices in Barcelona located mainly in the area of 22 @.
For its part, the recovery of income is consolidated in the different areas. The prime rent stands at € 23.00 / m² / month, 7% above that of a year ago.