Economic Context
The Spanish economy is growing at an annual rate of 2.7%. The unemployment rate stands at 10.18% nationwide, 8.0% in the Community of Madrid, and 8.2% in Barcelona. Despite geopolitical tensions and tariff policies, the logistics market continues to demonstrate notable strength. Solid occupier demand, trade growth, and the need for modern facilities are sustaining the sector’s appeal for both occupiers and investors.
Demand
Logistics take-up continues to show very positive momentum in the country’s two main markets. Madrid surpassed 930,000 sq m accumulated through September, with 31 transactions in the third quarter and strong momentum in the first ring. Barcelona recorded 276,000 sq m in Q3, the best quarter of the last 10 years, with notable transactions such as those by Consum, the Generalitat, and Honda. In both markets, the second and third rings account for most of the take-up, driven by limited availability in locations closer to the metropolitan area.
