2022-07-29-莱坊-European_Office_Dashboard_-_Barcelona_Q2_2022_2页_312kb

Barcelona's office market was resilient in Q2 2022, with occupier take-up 11% above the 5-year quarterly average despite a 5% year-over-year decrease in square meter uptake compared to Q1 2022. The vacancy rate was stable at 7%, and prime rents remained stable at €336 per sqm, supported by strong leasing activity.

Economic indicators showed improvement in workplace mobility in Catalonia due to eased COVID restrictions, bolstering the service sector. The Spanish unemployment rate increased slightly toward the end of Q1 as economic recovery slowed amid inflation and geopolitical factors. Service sector employment expectations peaked and are now leveling off, sustained by tourism, but the services PMI declined to 49.9, signaling a slowdown from cost pressures.

Contacts for further details: Rosa Uriol (Head of Research, rosa.uriol@es.knightfrank.com), Raul Vicente (Associate, raul.vicente@es.knightfrank.com), Colin Fitzgerald (Head of Occupier Strategy, colin.fitzgerald@knightfrank.com).