Economic Context
The global macroeconomic environment remains more cautious, marked by persistent geopolitical tensions, energy price volatility, and Eurozone inflation standing at 3.8% in September. Even so, the office market continues to register significant transactions and remains attractive to both domestic and international capital, with particular interest in prime assets and established locations in both Madrid and Barcelona.
Demand Trends
Office take-up remains solid in both Madrid and Barcelona, although it is increasingly constrained by the limited availability of high-quality space. Demand continues to concentrate in A and B+ buildings, while the shortage of prime supply is driving gradual diversification toward decentralized areas and new business hubs with strong transport links and services.
