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Marketbeat Offices Madrid Q3

Ramiro Rodriguez

Head of Research, Spain

Head of Research, Spain

Phone +34 91 781 92 08

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Office employment, private sector demand and the growth of productive activity at a regional level continue to drive the positive economic environment.
Gross take-up of office floorspace amounted to 515,050 sq m between January and September 2019, some 40% more than for the same period in 2018. The take-up of office floorspace in the Madrid market and its area of influence reached 158,000 sq m during the third quarter of 2019.

The average size of deal continued to trend upwards, reaching 1,950 sq m at the close of the third quarter of 2019. This is evidence of the greater floorspace needs of firms during the current market phase in Madrid.

Take-up according to area for the year-to-date is in line with the same dynamic seen in recent years, the Central Business District (CBD) producing some 32% of total demand, whereas 35% corresponded to the decentralised zones, thus illustrating the preference for these two sub-markets. For their part, the City Centre and Periphery cornered some 33% of take-up (11% and 22% respectively).