BNP Paribas: 22@ Accounted for 36% of Office Investments in Barcelona in 2018
8 April 2019 – 20 Minutos
Investment in the office market in Barcelona amounted to €695 million in 2018, of which €253 million (36%) corresponded to the 22@ district, according to a report compiled by BNP Paribas Real Estate España.
The forecasts for 2019 reveal that almost 77,800 m2 of new office space will be handed over in the technological district alone this year, more than doubling the figure recorded in 2018.
In terms of the sizes of the offices leased last year, 40% measured between 1,000 m2 and 2,000 m2 and 30% spanned between 301 m2 and 1,000 m2. Meanwhile, just 18% exceeded 2,000 m2, whilst 13% were smaller than 300 m2.
The average purchase price rose by 20% to between €1,500/m2 and €1,600/m2 in prime locations of the 22@ district. In turn, rental prices grew by 8% last year, to an average of €16.7/m2/month.
The 22@ district is home to 42% of all of the companies in Barcelona with high-profile tenants of the calibre of Facebook, Hewlett Packard and King, as well as Glovo and Llacuna.
Original story: 20 Minutos (by Puri Caro)
Translation/Summary: Carmel Drake