In Spain, over one million square meters of office space have been converted into residential and hotel properties in response to changing work patterns post-pandemic.
In recent years, Spain has seen a dramatic shift in the use of office spaces, as more than 1.1 million square meters have been transformed into residential units and hotels between 2023 and 2025. This significant change is largely driven by the rise of telecommuting since the COVID-19 pandemic, prompting companies to reassess their spatial needs and reduce their physical office footprints. The surge in building repurposing reflects a broader trend towards adapting urban environments to contemporary needs and lifestyles.
The figures provided by real estate consultancy CBRE highlight that nearly 1.4 billion euros have been invested in purchasing these office buildings for conversion. This reflects not only a response to changing work habits but a strategic pivot in urban development that aims to better utilize existing space in cities. As a result, investors and developers are increasingly viewing underused office buildings as valuable opportunities to create modern living and hospitality spaces that align with post-pandemic demands.
The implications of this transformation extend beyond mere economics; it signals a potential long-term shift in urban planning and development priorities. As cities evolve to accommodate hybrid work models and more flexible living arrangements, the demand for traditional office spaces may decline further, leading to a reevaluation of urban infrastructure. This trend could also stimulate local economies by increasing residential options and stimulating new hospitality ventures in areas previously dominated by corporate offices.
