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Savills: Decreased vacancy rates and increased refurbishments shape Spanish office market

Posted on 23 August 2011

The Madrid office vacancy rate has eased in the second quarter of 2011, standing at 4.73% in the city’s Central Business District (CBD), down from 5.31% in Q111, according to international real estate advisor Savills.
The firm states that this is an encouraging sign for Madrid’s office market, however it is important to note that occupier take-up is not the main reason for the decrease but a lack of new stock coming to the market. Take-up levels for Madrid reached approximately 90,000 m² in Q2 2011, down from 160,000 m² in Q2 2010……………………………………….Full Article: Source


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