Vacancy rate of office space in different submarkets in Madrid, Spain 2022-2023
The Central Business District (CBD) in Madrid, Spain had the lowers office vacancy rate in the first quarter of 2023. Approximately 4.1 percent of office space was vacant during that period, compared to 13.7 percent in the outskirts of the city. Since the outbreak of the coronavirus (COVID-19) pandemic, the office vacancy rate in Madrid has increased.
