In each of the previous two cycles, office rents rose much further in Madrid than Barcelona. But there is nothing to suggest that structural features of the Madrid market lie behind the more volatile rent data. So while talk of the next upswing still looks premature, when it does finally arrive, there is no guarantee that Madrid will outperform a third time.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services