Barcelona’s office market concluded 2025 with a total contracted volume of 314,000 square meters, representing a 6.44% increase compared to the 295,000 square meters recorded in 2024. This data, compiled in the latest office report by Forcadell, indicates that the year’s performance aligned with earlier projections.
Sustained Growth and Selective Demand Define Barcelona’s Office Market
A portion of the activity initially anticipated for the end of 2025 has shifted to the first months of 2026. This delay is attributed to the advanced but unfinalized status of several large-scale transactions. Manel de Bes, Director of Forcadell’s Office Department, commented, “This growth reaffirms the dynamism and solidity of the office market in Barcelona, even in an environment of increased selectivity from companies.”
During the final quarter of the year, contracting activity was concentrated in established areas and those with significant future potential. The city center and the Central Business District (CBD) collectively accounted for 46% of the contracted space. Developing areas absorbed nearly 40% of the total, with the 22@ district alone capturing 32.85% of quarterly contracting and the Plaza Europa-Fira District 6.37%.
Forcadell’s analysis highlights a growing trend towards selective demand, with companies prioritizing well-located assets that meet higher standards of quality and efficiency. Despite this increased selectivity, Barcelona’s office market remains active.
Availability Continues to Decline Across the City
The availability of office space in Barcelona has been steadily decreasing, reaching approximately 12% by the end of 2025, down from 12.5% in the previous quarter. This marks the fifth consecutive quarter of decline, driven by positive net absorption and a limited influx of new supply.
The 22@ district and the Fira area collectively hold about 52% of the available space, with the technological district dominating at nearly 40% of the total. The 22@’s share of available space has also decreased compared to the prior quarter. This balance between availability, quality of existing stock, and growth potential positions 22@ as a key area of activity for the coming quarters.
Outlook for 2026: Quality and Location Remain Key
For 2026, the report forecasts continued solid demand, albeit with an even greater degree of selectivity. Companies are expected to continue prioritizing consolidated locations and modern, efficient, and well-connected spaces, further segmenting the market. Prime assets will attract the majority of demand, and the availability of high-quality products will remain under pressure, particularly in the CBD and 22@.
The report also anticipates an acceleration in the rehabilitation and adaptation of existing office buildings, with a focus on sustainability and flexibility. The consolidation of flexible solutions, including hybrid models and coworking spaces, is also expected. Overall, Barcelona’s office market is moving towards moderate growth, characterized by the quality of assets, strategic locations, and adaptability to evolving user needs.
The report also references related news from the past month, including Avignon’s financing of an office asset in 22@, Conren Tramway’s sale of the Llull 122 office building in 22@, a family office acquiring the Salvany building in 22@, and Alting selling an office building on Avenida Diagonal to Banca March. These transactions underscore the ongoing activity and investment in Barcelona’s office sector.
Source: Observatorio Inmobiliario
