The offices are still one of the star products within the real estate. Only in the first quarter of the year they reached an investment of 720 million euros, according to data from the real estate consultancy JLL. This figure is more than triple the 212 million registered in the same period last year. Although the data is very positive, José Miguel Setién, director of Agencia Oficinas España of JLL, clarifies that the start of the previous year was marked by uncertainty.
"The last quarter has already started to rebound very consistently and that has meant a boost that places the investment at a reasonable cruising speed," explains the manager. Thus, it expects that in the next quarters similar figures will be reached and it is very likely that some of them will stand out positively, which would lead us to surpass the total figure of 2016. "" The first quarter has been relatively granular, since there have been only A large-volume asset. "It refers to the Torre Agbar, which acquired Merlin for 147 million euros." We believe that it is very likely that some assets or portfolios of a certain volume will be sold during the year, "says Setién.
In terms of contracting, Madrid has managed to fill about 100,000 square meters, compared to 90,420 in the same period last year. "This is a very similar figure to last year, but the data is positive since the operations have decreased somewhat in size, being the largest operation of 5,000 square meters." In Barcelona, where contracting has grown by 26%, reaching 86,000 square meters, the largest operation was 7,000 meters.
"In both cases they are relatively low ceilings, especially in the case of Madrid, but this means that the small and medium-sized segment is moving even more and it is likely that when the large operations currently in search are closed, Past, "explains Setién.
The reason why these demands have not yet been implemented is the lack of product. "The problem is that the segment that moves the most at the level of leasing in large areas is the intermediate price in rents. Large companies in CBD (Central Business District) that pay high rents are scarce and in recent years have been Given changes of premium companies with large areas ".
The expert says that "now the intermediate product (which moves in the fork of 15-20 euros per square meter per month) is very scarce. Only a tower with availability of more than 10,000 meters can be found. Some very peripheral building ".