Office rents in Madrid are yet to reach previous peak levels

madrid rental market

The capital of Spain is one of the most cyclical markets in Europe and rents are still far from the previous peaks. According to Morgan Stanley, there is more upward potential in values ​​with exposure to offices in Madrid. Besides, Spain is expected to grow above the European average.

We reiterate the Overweight (OW) at Merlin Properties. In Merlin, although the return profile has slowed down, compression in yields seems to be over, while 20% exposure remains a drag on returns,” MS experts commented.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.