The Barcelona offices mark a rising start to the year, thanks to 22@

Against all odds, Barcelona's office market has started 2026 with more strength than expected. In a global context still marked by uncertainty—high interest rates, geopolitical tensions, and slower corporate decisions—the Catalan capital registered a first quarter with significant growth in both contracting and investment.

The data, from reports by Savills Aguirre Newman and Forcadell, diverge in absolute figures—mainly because Savills included some operations that Forcadell did not, such as that of the Bank of Spain—but converge in the diagnosis:the market not only resists, but enters a new phase of maturity.According to Forcadell, contracting has reached 74,000 square meters, 37% more than a year ago. Savills raises this figure to 90,700 square meters, with a year-on-year increase of 58%. Beyond the methodological difference, the message is unequivocal: activity accelerates.

Of the investment in offices at the state level, Madrid concentrates 47% and Barcelona 53%

This good start to the year has, in part, an apparently paradoxical explanation. Some large planned operations have been delayed, which has moderated initial expectations. But, at the same time, the demand base has proven to be more solid and diversified than many actors anticipated. In parallel, the investment context begins to turn.At the state level, investment in offices has reached 950 million euros in the first quarter of the year —the best record in the last fifteen years—, quadrupling the volume of the same period in 2025, according to Savills Aguirre Newman. Of this volume, Madrid concentrates 47% and Barcelona 53%, a fact that places the Catalan capital as the main recipient of capital at the beginning of the year. This return on investment coincides with the improvement of the fundamentals of the user market. But if there is one indicator that better explains the change of cycle, it isthe availability. Just a few years ago, the debate revolved around a possible oversupply of offices in the city. Today, however, the market has strung together quarters of decline, with a rate that stands between 10% and 11.7%, and with particularly sharp lows in the center, where it barely reaches 4%. In parallel,it also changes the nature of demand. A significant part of the operations respond to space expansions, a move that points to a correction of the decisions made during the pandemic. "With the pandemic, many companies fell short when making forecasts and did not get it right with the growth they are registering now," explainsManel de Bes,director of Forcadell Offices.

22@, from emerging district to consolidated epicenter

If there is a clear protagonist of this cycle, it is 22@.The technological district concentrates 41% of operations and more than 60% of the contracted surface, according to Forcadell, while Savills attributes 38,000 square meters to it in this quarter alone, above its historical average. Its consolidation responds to several dynamics. On the one hand, the lack of supply in the city center —with availability levels close to 4%— shifts demand towards new business areas. On the other hand,the 22@ has known how to adapt to a new type of usercompanies that need flexibility, prepared spaces, and the ability to scale. In this sense, formats are gaining weightplug & play, ready-to-move-in offices that reduce time and initial investment. It is not just a matter of operational efficiency; it is also a response to longer and more prudent decision-making processes. In this context of maturity, the movements of the main agents in the district become relevant indicators. This Monday,22@Network Barcelona has announced the relocation of its headquarters to 22@Nord. The change is part of the activation of 22@Nord, with new flexible spaces, the presence of technology companies, and initiatives aimed atstartups, in an environment increasingly connected with the local ecosystem.