Search
 

Barcelona Office Rents Continue Rising

BARCELONA- A tight supply of offices has driven up rents by 10% since the beginning of the year and a similar rise is expected in the second half, according to CB Richard Ellis.

By Graham Parker | Updated on July 27, 2001

BARCELONA-Despite a fall in tenant demand, particularly from technology companies, the Barcelona office market is still constricted by lack of supply, according to a new report from CB Richard Ellis. Rents have risen by 10% since December 2000 and by 26% year-on-year to Pts 4,400 per sq m per month ($26 per sf per annum).

The office vacancy rate in the Catalan capital increased by 117,000 sf during the second quarter of 2001 to stand at 945,000 sf, but this is still 20% below that available this time last year. And at just 2.21%, the overall vacancy rate is still uncomfortably low.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.