Search
 

Madrid Office Market in Equilibrium

MADRID-The office market in the Spanish capital has reached a state of equilibrium, Although supply is increasing and take-up slowing, rents are stable, according to a new report from CB Richard Ellis.

By Graham Parker | Updated on October 01, 2001

MADRID-Office rents are stable in Madrid after an 8% increase during the first eight months of 2001, according to CB Richard Ellis. Prime rents now stand at Pts 6,500 per sq m per month ($35 per sf per annum), but the broker is not expecting any further increases as an increase in supply has taken some of the pressure off the market.

Availability now stands at 2.475 million sf, an increase of 860,000 sf in the past 12 months, but CB Richard Ellis notes that the increase would have been much larger had there not been significant pre-letting activity this year. The withdrawal of technology companies from the market has hit demand, however. CB Richard Ellis is forecasting an annual take-up of 4.85 million sf by the end of 2001.

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.