The La Cartuja district is solidifying its position as Sevilla's primary office market, recording a cumulative 33.9% increase in the average price per square meter over the last decade (2016-2025), rising from 9.33 to 12.50 euros per month. Concurrently, the occupancy rate has grown from 76.3% to 89.2%.
This analysis, based on an Inerzia report on Sevilla TechPark, highlights the market's strength, which has maintained sustained demand and high absorption capacity even during periods of economic uncertainty. The pandemic had minimal impact, with occupancy barely decreasing in 2020 and reaching historical highs in 2021.
The volume of office space has remained stable at around 250,000 square meters built, allowing the increase in demand to be directly reflected in rental prices. The rise in rents notably accelerated from 2021 onwards.
Building quality has become a key factor, fragmenting the market. While new-generation, high-quality buildings command rents between 12 and 22 euros per square meter (driven by benchmarks like Torre Sevilla), older properties, inherited from Expo 92, remain between 7 and 9 euros.
The main challenge for La Cartuja is the modernization of part of its real estate stock. Despite solid demand, many buildings show signs of obsolescence and risk losing competitiveness if rehabilitation processes are not undertaken, anticipating a more selective market focused on modern properties adapted to new work requirements.
