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Barcelona : further rental decline - Q1 2013

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A research produced by DTZ

Barcelona : further rental decline - Q1 2013

Office take-up has increased this quarter to 46,000 sq m. This represents an increase of approximately 12% compared with the previous quarter but a 16% decrease on the same quarter from 2011.

Whilst this quarter´s take-up has increased, take-up has yet to break out from the low range of take-up volumes seen since the onset of the crisis.

The vacancy rate for offices in Barcelona has remained stable, slightly above 14%.

This year´s supply is forecasted to exceed that of 2012 however this could easily be revised in the coming months as projects get delayed or stalled.

Average rental values have fallen this quarter in all areas except in the Rest of City area where rents remain flat. The periphery took the biggest fall this quarter with a 17% decrease on the previous year’s first quarter.

Source : DTZ (Groupe UGL)

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Keywords : DTZ