Office Market in Barcelona by CG Capital
  • Office Market in Barcelona (H1 2021)

    June, 2021

The Office market in Barcelona has experienced a positive performance in the first half of the year,
achieving its best start of year since 2008. Total investments in Barcelona’s office market amounted to c.
€200 million in Q1 2021 and are expected to grow to c.€350 million in Q2 2021, accounting for c.65% of
total H1 2021 office investments in Spain.

Barcelona is expected to close the first half of the year with total investments in offices worth c.€550
million. This figure represents an increase of c.65% compared to the average for the same period between
2016 and 2020. The driving force of the office market has been the 22@, which has accounted for c.90%
of the investment volume.

The high liquidity of the main European funds is leading to a quick recovery in the real estate investment
market. Barcelona is a highly attractive location for investors, due to its high occupancy rates and shortage
of available modern spaces. In addition, prime rents have been increasing consistently, experiencing a
c.60% accumulated growth since 2014.

The main transactions in 2021 to date have been the acquisition of the future headquarters of Everis by
Alllianz from Meridia Capital for €180 million and the purchase of One Parc Central by DWS from Värde
Capital Partners for c.€128 million.