{"id":63408,"date":"2025-05-19T08:45:00","date_gmt":"2025-05-19T06:45:00","guid":{"rendered":"https:\/\/blog.urbanitae.com\/?p=63408"},"modified":"2025-05-16T14:54:50","modified_gmt":"2025-05-16T12:54:50","slug":"the-office-market-moves-forward-with-notable-transactions","status":"publish","type":"post","link":"https:\/\/blog.urbanitae.com\/en\/2025\/05\/19\/the-office-market-moves-forward-with-notable-transactions\/","title":{"rendered":"The office market moves forward with notable transactions"},"content":{"rendered":"\n

The Spanish office market is consolidating as one of the most attractive for real estate investors<\/strong>. This is evidenced by major transactions closed in recent months and the short-term growth prospects forecasted by experts. After a gradual return to the workplace in the post-pandemic era, the segment was reactivated in 2024. Experts predict that 2025 will be a key year in its evolution.<\/p>\n\n\n\n

According to the 2024 MAD&BCN Office<\/a> Report<\/em> by Colliers, investment in this type of property grew by 33% in 2024 compared to the previous year, reaching \u20ac1.687 billion. While this figure is below the 10-year average of \u20ac2.625 billion, Spain has performed better than other Eurozone countries, where declines have averaged around 65% compared to the same period.<\/p>\n\n\n\n

The consultancy also notes that Madrid attracted the most investor interest last year<\/strong>, accounting for 45% (\u20ac773 million) of the transacted capital, while Barcelona came in second with 31% (\u20ac525 million).<\/p>\n\n\n\n

An analysis by Savills in the latest edition of Office Pulse: 2024 Review and 2025 Outlook<\/a><\/em> points to an even higher investment figure\u2014close to \u20ac2 billion\u2014marking a 50% increase compared to 2023. It also highlights the growing dynamism in the Madrid and Barcelona markets, where recovery has been consolidated with a 30% increase in space absorption in the capital (reaching 570,000 sqm) and 22% in Barcelona (289,000 sqm).<\/p>\n\n\n\n

Savills reports that, in 2024, Madrid saw 39 transactions of over 3,000 sqm<\/strong>, including 19 over 5,000 sqm and 6 exceeding 10,000 sqm. The region’s vacancy rate stood at 8.96%, fluctuating between 3.82% within the M30 ring and 12.17% outside it. The total space contracted in the capital amounted to 130,000 sqm, representing a 30% year-over-year increase.<\/p>\n\n\n\n

In Barcelona, the vacancy rate was 14.6%, with 12 transactions between 3,001 and 5,000 sqm, 5 between 5,001 and 10,000 sqm, and just one exceeding 10,000 sqm.<\/strong><\/p>\n\n\n\n

Additionally, Savills highlights that 25% of the total investment in the office sector was directed toward repurposing buildings that had lost competitiveness.<\/a> In this regard, CBRE<\/a> estimates more than \u20ac700 million was invested in converting these properties\u2014mainly into hotels and residential buildings\u2014surpassing the \u20ac250 million recorded in 2023.<\/p>\n\n\n\n

Signs of dynamism: the office market moves forward<\/strong><\/h2>\n\n\n\n

In 2024, the office market saw major transactions and entered a phase of increased dynamism:<\/p>\n\n\n\n