The real estate investment in Spain reached the 13.385 millions of euros until the end of third quarter, “thanks to large corporate operations closed this year”, according to data from the CBRE real estate.
However, excluding corporate operations, the figure would be around 7.600 millions of euros, a 16% below the 8.800 million registered in the same period of 2017.
This figure has placed Spain in the fifth place in the ranking of the most representative countries in Europe, but “at a very short distance” of Holland, which is in the fourth position.
Between july and september, the investment registered in Spain has been “exceptionally high“, after reaching 6.400 millions of euros, he 48% of the total of the year. This digit, according to the real estate services company, suppose “a historical record in terms of investment volume in the third quarter”.
For CBRE, the great activity in all real estate sectors, with some large-scale operations underway and the foreseeable closure of many of them in the last quarter of the year, suggests that Spain will register some investment levels higher than 16.000 million euros at the end of the year.
This figure will be “well above” of the 12.750 millions of euros registered in 2017 and allow me to beat “with profit” the investment record achieved in 2016.
The President of CBRE Spain, Adolfo Ramírez-Escudero, has highlighted that the evolution of real estate investment is being “very positive” and it is confirming the appetite of investors so much national and international for him Spanish real estate sector.
Taking into account the origin of the investor, in so far this year, the international investors have represented the 58% of investment in Spain, while the national ones have supposed the 42%.
By sectors, the one of the Offices has returned to take the leadership in Spain, with a 28% from the investment. He hotel sector, meanwhile, with a 24% from the investment, continue living a great time, after “a extraordinary 2017“.
The sector ‘retail‘ It has maintained its strength and has captured a 23% of the total, thanks to the sale of several portfolios of malls and of locales ‘high street‘. The logistics investment has taken over the 9% until the third trimester.
He residential sector, only including assets in rental, has increased “much” its volume compared to last year and has represented a 13% of the total investment. Specific, until October, have almost been reversed 2.000 millions in the Spanish residential sector for rent.
Among the operations closed this year, the purchase by Head from a portfolio of 1.458 housing a Caixabank for more than 200 millions of euros or the purchase by the British fund Glove Invest from the portfolio of Taurus by 180 millions.
CBRE It has also highlighted that the demand intensity it has also kept downward pressure on returns. Usually, “returns are at historically low levels and while interest rates do not rise, which are also at a minimum, real estate investment will be able to maintain the current cycle of high volume”.
Until October, real estate investment in Europe has continued to show “excellent figures” and has reached 216.000 millions of euros. Germany, with 56.100 millions of euros, has taken away UK (54.700 millions) its traditional position of leadership in the ranking so far this year.
[Source: The vanguard]