The volume of direct investment in real estate assets in Spain reached a total of 3.750 millions of euros at third quarter of 2018, which supposes an increase of 84% compared to the same quarter of the previous year.
This is reflected in the report ‘At a Glance‘, prepared by the consultant BNP Paribas Real Estate, which describes the situation of the investment in Spain in real estate assets during the third quarter of 2018.
In this way, the investment volume accumulated in 2018 achieves 7.760 millions of euros, slightly lower than that registered in the same period of 2017 (-4,2%).
According BNP Paribas, lack of product for sale, coupled with the high claims of some owners, are two factors that are causing many operations not to materialize.
The investment funds are still the main buyers. Its operations have represented the 65% of the total transacted during the third quarter of the year.
On the other hand, he retail continues to be the sector with the largest market share, with a 31% of the total investment. The volume invested in commercial assets during the third quarter it amounts to 1.140 millions of euros. The accumulated volume for the year exceeds 3.000 millions of euros.
Secondly, the investment in residential portfolios, which has reached a volume of 980 millions of euros in the third quarter of the year. Very high interest is observed, by the main opportunistic investment funds, to acquire home portfolios from, in many cases, of the financial institution balance sheets The “servicers“.
Unlike the first months of the year, activity in the office market has picked up momentum. The investment volume registered in the third quarter has amounted to 770 millions of euros. The Prime profitability of the office market remains in the 3,25% in Madrid and 3,50% in Barcelona.
By last, direct investment in logistics warehouses in profitability has rebounded considerably during the third quarter. The investment volume registered in the third quarter has reached 475 millions of euros. This figure mainly responds to the purchase by Blackstone from Grupo Lar's warehouse portfolio by 100 millions of euros and the recent purchase by Tritax from the ship of VGP what occupies Mango in Barcelona by 150 millions of euros.
[Source: The Economist]