Iberia’s economic hub

Madrid

The 6th largest European city by population, Madrid is the major financial centre in the Iberic Peninsula due to its market size and economic output.

The famously vibrant Spanish capital is also one of the top European destinations when it comes to culture, art and architecture and is considered one of the richest culinary capitals.

Spain is the fifth-largest economy in Europe behind Germany, the United Kingdom, France and Italy as well as the fourth-largest in the eurozone based on nominal GDP statistics. As the economic hub of Spain and home to over half a million companies, Madrid’s economy is mainly service-based and it boasts one of the greatest labour markets in Europe, leading the country in growth rates and direct foreign investment.
Although the service sector predominates in its economy, Madrid continues to hold the position of Spain's second industrial centre after Barcelona, specialising particularly in high-technology production. The city’s key sectors include financial services, real estate, telecoms, technology and software development, logistics. Madrid’s location at the very centre of the peninsula is also strategic to capture the larger part of foreign investment coming into Spain in recent years.

Studio Alliance members have undertaken projects in Madrid for:

Madrid Fast Facts

Average letting cost

€405

sq metre/year, prime rent

Total lettings in 2021

330.000

sqm

Vacancy rates

10.29%

in 2021

Due to its a high standard of living, ease of access to markets and influence in politics, education, entertainment, environment, media, fashion, science, culture, and the arts, Madrid is considered one of the world's major global cities.

With office markets taking positive leasing momentum into 2022 across EMEA, Madrid is among the markets likely to see a sharper bounce in take-up.

Significant letting

SECURITAS

8.700 m2

Camino Cerro de los Gamos 5

Significant investment

Merlin

€35 million

15000 m2, Castellana 85