The Valencian economy will keep expanding above the national average, with the office contracting reaching, in 2018, historical levels of 40.274 sqm, with a 2% increase over the previous year.
For 2019, BNP Paribas Real Estate estimates that the growth trend will be maintained, due to the current large demand in office spaces.
Concerning rents, in the most exclusive buildings in the city centre rents average levels remain at between 12.0 and 14.5 €/sqm per month. BNP Paribas Real Estate estimates a possible increase on these rents in buildings with better quality.
In terms of office real estate development, its return is appreciated, especially in the city centre, where it is increasingly needed as a consequence of the lack of availability and demand’s great activity.