Office occupancy rate in city of Barcelona now over 87%

• This figure is the best occupancy rate seen in the past seven years in Barcelona.
• In the second quarter of this year, the city hit a record in leases on office space.

At the end of the first semester of 2015, the volume of offices leased in the city of Barcelona was up roughly 50%, at more than 177,000 m2. These figures are the best in the past seven years, as shown in a report by real estate consultancy Aguirre Newman presented in July.

The report also highlights that this upward trend that began last year will continue throughout 2015, as no newly constructed buildings will go on the market for the first time in many years.

In 2016, however, new office buildings will be inaugurated with a total surface area of nearly 58,000 square meters, although one third of this space has already been promised, like the new headquarters of the Cuatrecasas law firm in the 22@ district. In 2017, several significant office buildings are also expected to go on the market.

In the report, Aguirre Newman highlights that rental prices have recovered, up 8.7% in Barcelona for office space, and that they expect to see over 800 million euros in investment in office space in the Catalan capital between now and the end of the year, with a definitive return of the more conservative investors.

Real estate consultancy JLL confirms the record-setting figures, highlighting that in the second quarter alone 120 leases were signed, up 87% from the same period in 2014. 25% of the square meters leased are in new business areas (Plaça Europa, 22@), 21% in the city center, and 15% on Passeig de Gràcia and Diagonal, specifically.