Real estate and infrastructure occupiers in Madrid typically cluster in Castellana & AZCA, plan ~215 sqft per seat at high-end fit-out ($160–235/sqft), and pay around 38 EUR/sqft ($41 USD) on Class A.

• Preferred submarket: Castellana & AZCA.
• Typical fit-out spec: High-end ($160–235/sqft).
• Plan ~215 sqft per seat for headcount sizing.
• Class A rent context: 38 EUR/sqft ($41 USD).
• Typical lease: 7 years with 14 months rent-free.
• Talent depth in Madrid: 78/100.

TL;DR

• Preferred submarket: Castellana & AZCA.
• Typical fit-out spec: High-end ($160–235/sqft).
• Plan ~215 sqft per seat for headcount sizing.
• Class A rent context: 38 EUR/sqft ($41 USD).
• Typical lease: 7 years with 14 months rent-free.
• Talent depth in Madrid: 78/100.

Where they cluster

Real estate and infrastructure occupiers in Madrid typically anchor in Castellana & AZCA. Banking, corporate HQs, law firms, consulting.

What they pay

Class A rent in Madrid runs 38 EUR/sqft ($41 USD) on a 7-year lease with 14 months free. Trophy submarkets command a 20–40% premium above the city index.

Spec and fit-out

Typical real estate and infrastructure fit-out targets high-end specification at $160–235/sqft. Branded reception, full client-facing programming, premium furniture, and specialist AV are standard.

Headcount sizing

Plan around 215 sqft per seat blended (workstation + circulation + amenity). A 100-headcount real estate office in Madrid typically targets 21,500 sqft of leasable area.

Talent angle

Sponsor and asset-management teams favor trophy CBD addresses with proximity to investment-banking and law-firm tenancy. Iberian peninsula's deepest financial-services and tech talent pool. Average all-in compensation indexes 78.

Tax and lease context

Headline corporate tax: 25%. Standard 5-year lease with 5-year extension option (5+5). Rent indexed to CPI annually. Service charges billed separately. Tenant typically pays IBI (real estate tax) and basura (waste tax). Bank guarantee of 3-6 months standard.

Key facts

Frequently asked questions

Where do real estate and infrastructure occupiers lease office space in Madrid?

Most cluster in Castellana & AZCA. Rent runs ~38 EUR/sqft ($41 USD) for trophy and prime stock.

What fit-out spec do real estate and infrastructure occupiers run in Madrid?

Typically high-end at $160–235/sqft.

How much office space per seat should a real estate and infrastructure occupier plan in Madrid?

Plan ~215 sqft per seat blended. A 100-person team typically takes 21,500 sqft.

What NAICS codes describe the real estate and infrastructure vertical?

Representative NAICS 2022 codes: 531, 237.

What is the talent index in Madrid?

78/100. Use the city profile for full detail.

Related

• Real estate and infrastructure — global overview
• Madrid — full city profile
• Financial services in Madrid
• Asset management in Madrid
• Investment banking in Madrid
• Legal services in Madrid

Editorial provenance

Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

• CBRE Marketview reports — CBRE
• JLL Office Insight — JLL
• Cushman & Wakefield Marketbeat — Cushman & Wakefield
• Savills World Research — Savills
• Colliers Global Office Outlook — Colliers

Full sources index · Submit a correction

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