Office rents in Barcelona dropped by 1% to a maximum of €19 per m2 per month for prime buildings and €16.5 per m2 for other assets in the city’s central business district, according to a report by Jones Lang LaSalle.
In the same period, rents reached €16.75 per m2 per month in the new business areas of 22@ and a maximum of €10.25 per m2 in Barcelona’s decentralised areas.
“Rents are expected to decrease slightly throughout the year until they stabilise at the end of 2011,” said Jordi Toboso, JLL’s general director in the city.
Despite the drop in rents, office supply in the Catalan city also decreased for the first time in four years in the first trimester of 2011. The average vacancy rate in Barcelona dropped slightly from 13.5% to 13.2% in this year’s first quarter compared to the previous trimester.
