A study highlights that, as of June, flexible office space accounted for 2% of total office leasing in Madrid and Barcelona. This reflects a spending rationalization trend, with the utilized area approaching 500,000 square meters.

Although there has recently been a growing trend in the city centers of major cities to convert office buildings into residential properties, often in prime areas, Spain ranks among the most developed European markets for flexible offices, with 63% maturity, according to the report Global Trends in Flexible Office.

The Spanish market for this type of office (which offers greater adaptability for companies, paying only for the time used or selecting only the additional services they will use) continues its steady expansion, reaching a level comparable to Germany and Sweden, and only behind European leaders: The United Kingdom (97%) and France (96%).

This outcome confirms the strong consolidation of the model in the country and its growing significance in the international landscape, experts highlight, explaining that the combination of sustained demand, interest in collaborative and well-equipped spaces, and widespread adoption of hybrid work models reinforces the segment’s expansion in Spain’s major cities.

These factors place Spain in a solid position within the European context and point to substantial structural growth potential in the coming years. During the first half of 2025, flexible space represented 2% of total office leasing in Madrid and Barcelona. The accumulated flexible office area reaches 265,000 square meters in Madrid and 233,000 square meters in Barcelona, positioning them as two of the main European hubs in this segment. In terms of penetration of the total office stock, flexible offices now account for 1.9% of the Madrid market and 3.2% in Barcelona, figures that reflect a growing trend and consolidate the role of these spaces as a real alternative to traditional models.

The model has established itself as a key component of corporate strategies, both short- and long-term, allowing for more agile decision-making and efficient occupancy, the report emphasizes, noting that the Europe, Middle East, and Africa (EMEA) region leads in its use. Specifically, 61% of companies in these regions have incorporated flexible offices, in a context where the market is evolving toward shared management agreements between owners and operators, as well as toward the managed office format, which allows for faster implementation and simplified operations.

This type of space is gaining prominence in European cities where the quality of the workspace and occupant experience have become differentiating factors, while the costs of fitting out traditional offices which exceed €1,500 per square meter reinforce this trend, driving preference for pre-equipped spaces that reduce initial investment. In this regard, experts highlight that the flexible office business will continue to grow in Spain, driven by the increasing utility this model offers to corporations. At CG Capital Europe, we work closely with international funds, institutional investors, and corporations to identify, structure, and execute real estate investment opportunities across all asset classes in Spain, including office properties, residential, hospitality and logistics. With privileged access to global capital, deep market knowledge, and a proven track record in complex transactions, we provide strategic advisory services that enhance value creation and investment performance. The strong fundamentals of the Spanish market continue to drive robust sector dynamics, positioning CG Capital Europe as a trusted partner for those seeking to capture the most attractive opportunities in one of Europe’s most dynamic real estate markets.

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