Offices for rent in Bilbao, Vizcaya
Discover office rentals in Bilbao
Bilbao has positioned itself as the only city in all of Spain to be among the 20 most prosperous cities in the world, according to the PICSA Index, which highlights the city as not only the financial lung of the Basque Country, but also the inclusive economy that Bilbao enjoys. In just a few years, it has emerged as a service city, with companies of national and international relevance, two of which are among the 150 largest companies in the world named by Forbes magazine: BBVA and Iberdrola.
After its industrial decline in the late 1970s, it has been possible to quickly create an economy without inequalities. This helps attract investment to the city, and in fact one of the best options for any company is office rentals in the center of Bilbao. The magnitude of tourism is one of the main reasons for having a business center in the city, which also complements the volume of business both directly and indirectly. In addition to leisure tourism, the city also has business and conference tourism, thanks to facilities such as the Euskalduna Palace and the nearby Bilbao Exhibition Center. However, regardless of the type of tourism in Bilbao, its contribution to wealth and employment is fundamental. However, the rise in tourist arrivals to Bilbao meant that tourism's contribution to the GDP of the Basque Country exceeded the 6% threshold in 2019. The size of the tourism industry matters because it contributes significantly, as it generates business volume and employment in the activities involved directly or indirectly. In recent decades, tourism consumption has continued to grow, directly affecting a wide variety of activities, such as accommodation: hotels, apartments, campsites... and catering: bars, restaurants, bakeries, etc. All this makes Bilbao one of the preferred cities to look for an office for rent in Bilbao. In Bilbao, tourist spending is constantly growing, giving it a large flow of potential customers to build loyalty for your brand. In addition, it has become an ideal place to strengthen ties with other companies and network.
Real estate transactions continue to increase, according to data from the Ministry of Housing. In the first quarter of 2021, a total of 826 transactions took place, 8.26% higher than in the first quarter of 2020. On the other hand, the price of housing in Bilbao was 2,576 euros per square meter. In other words, it has only increased by 0.3% compared to the end of 2021. Compared to the rest of Spain, the city of Bilbao is one of the most interesting options for renting or buying an office. This increase in demand for office rentals in Bilbao has led to the addition of 1,323 employees in the last fiscal year of 2020, 5.3% more than in 2018, which translates into an increase of 66 jobs.
However, if we compare Bilbao with San Sebastián, we can see that it is a more expensive city, with a cost per square meter that amounts to 3,686 euros. Barcelona and Madrid follow closely behind, with 3,359 and 3,086 euros per square meter respectively. Even so, the demographic, economic and price conditions make Bilbao an excellent bet.
In conclusion, the demographic evolution of Bilbao, and with it the economic one, is truly positive and favorable at a commercial level. If you're considering opening a company office in Bilbao, request more information and we'll help you find the perfect office for your business.
