After a few years with deflated demand, the office market in the district 22@ will close 2024 in top shape. In the absence of definitive figures, preliminary data suggest that Barcelona’s technological district will end the year with “robust levels of absorption”, in the words of Javier Bernadesdirector of the office area of Cushman & Wakefield.
The specialist estimates that “we are probably close to 100,000 square meters”, which represents the second best office demand figure in the last five years in 22@. This recovery is concentrated in the Glòries axis and the southern area, while the locations in the northern sector continue to show greater availability.
Among the main operations of the year is the rental of 6,000 meters of offices by the Barcelona Provincial Council in the Green Business District complex, owned by Glenwell Group, where the video game firm Scopely has also landed with 8,000 meters.
Bernades also highlights the asset qualitywith 82% of the operations registered in class buildings between A and B+, the highest quality segment. “As a consequence, the availability of offices in the district has been reduced by 9%, a trend that will continue through 2025,” he explains. In Barcelona as a whole, the office availability rate reached 14.4% at the end of the third quarter.
In this opinion he agrees Manel de Besoffice director of Forcadell: “The year will end with a fairly good absorption, although surely some important operations that were to be signed this quarter will move to 2025.” Looking ahead to next year, net absorption will continue to be positive and this will cause supply to progressively decrease.
On the other hand, the expert maintains that owners are increasingly showing greater flexibility when it comes to offering solutions to their tenants. In fact, 50% of the transactions in 22@ this year have been formalized in format plug&play.
Asset diversification
In parallel to this recovery, the area hot of offices in Barcelona shows another growing feature: diversification in the supply of real estate assets. This 2024, the district has added a new health center with the Evangelical Hospital and the construction of another hospital by Colonial, Sanitas and Mapfre has been announced, which will open its doors in 2027.
It also increases the luxury residential proposalslike the lofts premiered in La Siberia and Deslite by Meridia, and the student residences such as Blau Student Housing, Aparto (Cristóbal de Moura) and La Fabrica & Co, all inaugurated this year.
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