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Madrid Offices - Q1 2016

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Madrid Offices - Q1 2016

The first quarter closed with take-up figures of circa 125,000 sqm, a 17% y-o-y increase if we disregard the two mega-deals in Q1 2015 (KPMG and BNP, both of which exceeded 10,000 sq m).

The achievable prime CBD rent increased to €27 per sq m/month, which equates to 5% y-o-y growth and 2% q-o-q.

The lack of quality space in the city has pushed occupiers to look further afield at more peripheral locations. For the first time since the beginning of the crisis, periphery areas have accounted for the most take-up and number of deals.

Source : Savills

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