Vacancy rate of office space in different submarkets in Madrid, Spain 2024
The Central Business District (CBD) in Madrid, Spain had the lowers office vacancy rate in the first quarter of 2024. Approximately 4.1 percent of office space was vacant during that period, compared to 13.8 percent in the outskirts of the city. Since the outbreak of the coronavirus (COVID-19) pandemic, the office vacancy rate in Madrid has increased.