Barcelona records 146,000 sq m of office take-up in the first half of 2026

A total of 72,000 sq m of office space was taken up in Q2 2026, representing an 18% decrease compared with the same period last year.

Technology and education-related companies together accounted for 45% of the quarter’s leasing activity.

The 22@ district captured almost 30% of total take-up, reinforcing its position as the market’s leading office hub.

Barcelona’s office market recorded 72,000 sq m of take-up in Q2 2026, representing an 18% year-on-year decline. Leasing activity came in below expectations as several major transactions were delayed and failed to complete before quarter-end.

Despite the weaker quarterly performance, the first-half results reflect a more stable market. According to FORCADELL’s latest report, office take-up reached 146,000 sq m between January and June, slightly above the 142,000 sq m recorded during the same period in 2025. This performance confirms that demand remains solid, although influenced by longer and more demanding decision-making processes.

During the first half of the year, 16 transactions exceeding 1,000 sq m were completed, including several deals that had been in the pipeline for months. The period also saw an increase in the number of companies relocating while expanding their office space.

Manel de Bes, Director of the Office Department at FORCADELL, notes: “The first-half results show that demand remains active despite longer decision-making processes. The completion of deals that had been under negotiation for months, together with the increase in relocations involving office space expansion, are positive signs. However, it is important to maintain a cautious view of the market’s evolution”.

“The outlook for the second half of the year is reasonably optimistic”, says Manel de Bes. A substantial number of transactions currently at an advanced stage could enable 2026 to close with office take-up broadly in line with 2025, at approximately 300,000 sq m.

22@ remains the market’s leading office submarket

By location, the 22@ district accounted for nearly 30% of total office take-up during Q2 2026. The area continues to attract companies thanks to its state-of-the-art office buildings, high sustainability standards and an increasingly comprehensive range of services.

By sector, technology and education-related companies were the main drivers of demand, accounting for 45% of the quarter’s total take-up.

According to FORCADELL, Barcelona’s office vacancy rate remained broadly stable at 11.6%. The 22@ district accounted for approximately 43% of the city’s available office stock, while the City Centre accounted for nearly 24%, the Periphery around 20%, and the CBD recorded a vacancy rate of approximately 4%.

Stable rents and greater market segmentation

Office rents remain stable, although the market continues to be clearly segmented by location and asset quality. Financial incentives, rent-free periods and fitted office space continue to play a key role in securing transactions, particularly in non-prime locations.

The CBD remains Barcelona’s most exclusive office submarket, with a very limited supply. The 22@ district continues to stand out for its dynamism, while the Fira district is consolidating its position as a modern and efficient alternative. In the Periphery, rents range between €14 and €16/sq m/month for Grade A assets and stand at around €8/sq m/month for Grade C assets.

Overall, Barcelona’s office market is becoming increasingly mature and selective, with asset quality, flexibility, location and speed of occupation playing an increasingly important role in companies’ decision-making.