Barcelona as a landmark for Grade A offices
Barcelona’s office market demand has been shifting for the previous years, specially focusing on top tier offices in 2022. As a result, Grade A office’s rents are 5.2% higher than the rest of the Barcelona’s office market, a difference that can reach up to 7% in certain secondary neighborhoods.
Barcelona currently has more than one million sq.m. of top-quality office space, equivalent to 21% of the city’s stock, without considering the periphery. This figure has been growing significantly in recent years and is well above the percentage recorded in Madrid, which stands at 14%.
The area with the largest stock of Grade A office space is the 22@ district, with a 53% share, equivalent to 670,000 sq.m.. This area is followed by Zona Franca, with 35% of Grade A buildings and 242,000 sq.m., and the business center (CBD) with a 15% share and 122,000 sq.m.. The area with the lowest share of Grade A buildings is the city center, with 2%, equivalent to 50,000 sq.m..
Currently, Barcelona’s office market has an availability rate of 11.6%, a figure that falls to 3.4% on average for Grade A buildings. The availability rate for buildings in this category in 22@ is 11.3% -due to the increased delivery of new buildings in this area-, 2% in the CBD or 0.3% in the city center.