23.08.2011 - Savills: Decreased vacancy rates and increased refurbishments shape Spanish office market
The Madrid office vacancy rate has eased in the second quarter of 2011, standing at 4.73% in the citys 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 Madrids 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 m in Q2 2011, down from 160,000 m in Q2 2010..............................................Full Article: Source
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