The real estate investment in Spain it has reached 18.748 millions of euros in 2018 with two weeks to go until the end of the year, with what the year-on-year increase exceeds the 46 %, so that in 2017 it was of 12.849 millions, according to data from the consultant CBRE.
At press conference, the director advisor of CBRE Spain, Mikel Marco-Gardoqui, has highlighted that in 2018 has continued “high liquidity in the market” and “attractiveness for Madrid investments and Barcelona compared to other European cities”.
Excluding corporate operations (the most prominent was the merger by absorption of Colonial a Axiare), investment has been in 2018 -until the 18 from December- of 10.756 millions of euros, Meanwhile in 2017 it was of 11.549 millions.
The year-on-year reduction would be from 7 %, although in the two remaining weeks for the closing of the exercise Marco-Gardoqui forecasts that a volume similar to the previous year will be reached.
In this sense, Director of CBRE has highlighted that in the last five years in Spain some “solid figures” investment around 10.000 u 11.000 million excluding corporate operations.
In his opinion, that endorses “the positive cycle of the real estate market” and that “it was not a flower of a couple of years the volume that was reached in 2014 and 2015”, at the beginning of the current expansionary cycle.
Of the state total, in Madrid concentrated the 44 % from the investment -excluding corporate movements- and in Catalonia on 20 %.
Marco-Gardoqui believes that Barcelona and Madrid they have higher growth expectations than other large European cities and are “Opportunistic Investor Target”, because the two largest Spanish cities move in volumes of real estate business lower than those they had in 2007, While London, Paris and the main german capitals they already exceeded them.
By sectors, investing so far 2018 reaches 4.451 millions in Offices; 4.269 in commercial premises (“retail“); 4.223 in residential -excluded soils-; 3.941 in Hotels; 1.507 in logistics assets, and 328 in other types of real estate.
Director of CBRE has emphasized the strength of living place and Hotels, which already resembles commercial subsectors and of Offices, which were the focus of attraction in previous years, also during the crisis.
The investments proceed in a 65 % from abroad and, between these, stands out in 2018 that he 66 % son americans, thanks in large part to the interest in the Spanish real estate market of the New York group Blackstone (whose investment this year CBRE the figure in 5.420 millions).
He 35 % of capital comes from institutional funds and the 27 % of socimis, the two most representative investor profiles.
The “yields” (average profitability) this year they have reached 5,25 % in logistics, he 4,5 in shopping centers, he 3,75 in offices and the 3,25 in shops in central urban areas (“high street“).
According CBRE, the housing price boom in 2018 round the 6 The 7 %.
Home transactions will reach year-end 585.000 (just the 10 % new construction, for lack of supply) and forecast CBRE for 2019 It is 625.000.
Visas this year have been about 100.000, in front of 81.000 of 2017 and the 125.000 intended for 2019.
He 22,2 % of Spanish households reside in rental, some 11 points less than the European average.
[Source: Eldiario.es ]