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The Barcelona office market closed 2025 with 314,000 m² leased, a 6.44% increase compared to 2024 (295,000 m²), according to the latest Barcelona Office Market Report published by FORCADELL. This momentum is carrying over into early 2026, supported by significant transactions currently at an advanced stage, which are expected to be completed in the first months of the year.
As explained by Manel de Bes, Director of FORCADELL’s Office Department, “this growth reaffirms the dynamism and solidity of the Barcelona office market, even in an environment of greater selectivity on the part of companies.”
Although the annual leasing volume aligns with what had been forecast throughout the year, the report shows a fourth quarter of 2025 with a more moderate absorption pace than expected, reaching 47,000 m², a 23.61% year-on-year decrease due to delays in several large-scale transactions, rather than a drop in demand.
In Q4, office demand continued to concentrate in the city’s most attractive axes. As a result, the City Centre and the CBD accounted for 46% of the space leased during the quarter, while the areas with the greatest growth potential captured close to 40% of the total: 22@ accounted for 32.85% and Plaza Europa – Fira District for 6.37%.
These figures indicate that “Barcelona maintains its appeal as a business and technology hub, with active demand that is increasingly focused on quality, location and efficiency,” according to Manel de Bes, who adds that the data point to “an early 2026 that presents itself as a clear opportunity for owners and investors, in a market that combines resilience, growth and potential.”
As reflected in FORCADELL’s analysis, office availability in Barcelona continues to adjust progressively, recording five consecutive quarters of decline as a result of positive net absorption and very limited new supply.
The city’s availability rate currently stands at around 12%, compared to 12.5% in the previous quarter, reinforcing an increasingly balanced market scenario.
22@ and NBA Fira account for approximately 52% of the available surface area, with a clear predominance of 22@, which represents close to 40% of the total and reduces its weight compared to the previous quarter. This district shows the best balance between office availability, quality and growth potential, making it the main focus of activity for the coming quarters.
“The indicators show how the Barcelona office market is moving towards a scenario of lower availability and greater selectivity, where location and asset quality are decisive,” highlights Manel de Bes.
FORCADELL’s market report forecasts that in 2026 demand will remain solid, although increasingly selective, driven by companies that prioritise well-positioned locations and modern, efficient and well-connected spaces. In this scenario, the market will remain balanced but segmented: prime assets will concentrate most of the demand, and premium availability will continue to be under pressure, especially in the CBD and 22@.
At the same time, the transformation of the office stock will accelerate through refurbishment and adaptation projects focused on sustainability and flexibility, and flex solutions linked to hybrid models and coworking will consolidate as a structural component of the market. Overall, a mature scenario of moderate and selective growth, where location, quality and adaptability will make the difference.
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