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Spain Marketbeats

Marta Esclapés • 28/07/2022
Cushman & Wakefield MarketBeat reports analyse quarterly Spain commercial property activity across office, retail and industrial real estate sectors including supply, demand and pricing trends at the market and submarket levels.


Madrid. Office take-up remains strong.

The first half of 2022 accumulated a total of 248,600 sq m of space absorption in Madrid office market, reflecting the dynamism in this sector. 

Barcelona. Demand returns to 2019 levels in terms of the number of deals. 

This first half of 2022 has seen the take-up of office floorspace in Barcelona grow to around 183,000 sq m in close to 170 transactions.


Madrid. E-commerce remains the driver of logistics.

The latest published data (December 2021) of e commerce shows that e commerce turnover increased by 16% in the fourth quarter of 2021 compared to the same quarter of 2020 and by 27% compared to the same quarter of 2019 (period preCovid19).

Barcelona. E-commerce continues to drive logistics.

The most recent data (September 2021) on e-commerce shows that turnover increased by 15% in the third quarter of 2021 compared with the same period in 2020, and by some 18% in comparison with that of 2019 (pre-Covid19).


Spain closes the first half of the year with volumes some 63% above the first half average for the previous 5 years.
The first half closed with an aggregate figure of €9 billion in terms of investment deals in Spain, some 63% above the first
half averages recorded over the past five years. A clear recovery in investment figures is particularly noticeable in Madrid, whereas the more modest levels in Barcelona match the record set in 2017. 


Madrid, vacancy levels precovid19.

If we analyse premises located in the Prime and Super Prime areas of Madrid, in June of 2022 closed with a vacancy rate of 4.3%. This is lower than the level seen during the first quarter of 2020; in other words, below the rate existing prior to Covid 19, when the vacancy rate for the same area was 5.1%.

Barcelona, decrease the vacancy rate.
The fast return to normality has activated the return of foreign tourists. In the city of Barcelona, during the month of June 2022 have been reached 90% of foreign tourists compared to the same month of 2019. This volume shows the fast recovery of international tourism and is expected to maintain the dynamism in the arrival of foreign visitors until the end of the year.

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