Companies and ICT sector rent 53% of all offices in Barcelona

• These companies value attractive market prices and Barcelona’s ability to attract talent
• Barcelona has greater potential for increase in rental prices than any other city in Europe

Barcelona has become a magnet for technology companies around the world. These companies carried out 53% of all office rental operations in Barcelona in 2016, according to real estate consultancy JLL, renting more than 150,000 m².

The most noteworthy operations of last year include, among others, those by Atos (5,962 m2), Accenture(4,591 m2), HP (4,591 m2), Epson (3,084 m2), Criteo (2,454 m2), FX Animation (1,800 m2) and Softonic(1,586 m2). Sources at JLL say that executives at these multinational corporations value the attractive market prices and Barcelona’s ability to attract talent, above all.

The high demand for office space to rent in Barcelona has led to a scarcity of available space for new companies and to expand current facilities. This pressure to lease or purchase offices will continue in the short term, although right now a total of 65,000 m² of office space is being developed.

The most in-demand area for multinational corporations is the 22@ technology district, which is 200 hectares and, according to real estate consultancy CBRE, was the focus of 45% of all investment in 2016. Rental prices in this area are now comparable to those on Passeig de Gràcia or Avinguda Diagonal. Barcelona currently has greater potential for increase in rental prices over the coming years than any other city in Europe.