Office
Madrid. Office take-up remains strong.
The first 9 months of 2022 have accumulated a total of 384,000 m² of office space in the Madrid market and the number of lettings has been 308 contracts signed, which shows that the activity has remained robust in recent months in the office sector. In this way, in the first three quarters of the year, the levels both in surface area and in number of operations, have been reached for all 2021.
Barcelona. Quality remains the priority requirement.
This first nine months of 2022 have seen the take-up of office floorspace in Barcelona grow to around 254,000 sq m in around 250 transactions. This figure is around the average for the past 5 years and some 9% greater than that for the same period in 2021. Take up in Barcelona amounted to 91,000 sq m this third quarter, representing a fall of 24% on the same period the previous year.
Industrial
Madrid. E-commerce remains the driver of logistics.
The latest published data (March 2022) shows that e-commerce turnover increased by 25% in the first quarter of 2022 compared to the same quarter of 2021. In monetary terms, the volume of e-commerce business reached 15.627 million euros between January and March 2022.
Barcelona. E-commerce continues to drive logistics.
The latest published data (March 2022) shows that e-commerce turnover increased by 25% in the first quarter of 2022 compared to the same quarter of 2021.
Investment
The third quarter of 2022 closes with total investment of €12.7 billion in Spain.
Investment during the first nine months of 2022 has mainly been led by the retail (30%), residential (28%), office (18%) and hotel (17%) sectors, whereas the logistics sector contributed to 6% of total volume. In terms of investor profile, some 58% comes from overseas groups (in lin e w ith the trend recorded since 2017).
Retail
Madrid, maintains the good general dynamic.
At the end of June 2022, the vacancy rate of commercial surface was 4.9% for high streets unit located in the Prime and SuperPrime of Madrid.
Barcelona, the decrease of vacancy rate continues.
The fast return to normality has activated the return of foreign tourists. Spain has experienced a very dynamic tourist season, recovering the 90% of foreign tourists during July and August 2022, compared to the same months of 2019.
