Barcelona office market recovers and reaches €550 million in 2024, up 24%

The office segment in Barcelona has recovered. In 2024, the joint value of all operations was €550 million, while the previous year it was only €280 million, mainly due to the interest rates and lack of confidence arising from remote working.

Real estate consultancy Forcadell, in a document published recently, stated that the market went from 238,000 m² in contracts in 2023 to 295,000 m² last year. The figure for 2024 shows 24% growth. For 2025, the consultancy firm expects another positive year, consolidating the trend.

It is worth noting that 46% of all contracts in the office segment were for spaces in the city centre (42.24%) and nearly 40% were in the 22@ district (27.27%) and the Plaça d’Europa–Fira District (12.49%), the new business areas.

The most noteworthy operation of the year was the Consorci de la Zona Franca de Barcelona (CZFB) acquisition of the Torre Tarragona building from Blackstone for €93 million. Also significant are the five assets acquired by Stoneshield in Esplugues for a total of €220 million, including the Bayer headquarters and the Imagina building, to create its biomedical campus in Catalonia.