IP03

2017 / iberian.propery // 7

ISSUE: TOP IBERIAN cities //events

Iberian Property Summit

Organised by Iberian Property, the Iberian

Property Summit took place on 20 June at

the Hyatt Regency – The Churchill, in Lon-

don, and included the participation ofmore

than 20 renowned speakers. It was, ac-

cording to the organisation,

“a real success”.

In this first edition, the event received sup-

port fromthemain associations andbodies

that mobilise real estate investment on a

global, European and national scale, in-

cluding RICS – Royal Institution of Char-

tered Surveyors, EPRA – European Public

Real Estate Association, and ULI – Urban

Land Institute. ASPRIMA – Asociacíon de

Promotores Inmobiliarios de Madrid, ACI –

Asociacíon Española deEmpresas deCon-

sultoría Inmobiliário, APFIPP – Associação

Portuguesa dos Fundos de Investimento,

Pensões e de Património are APPII – As-

sociação Portuguesa dos Promotores e

Investidores Imobiliários, were the Iberian

entities associatedwith theevent,whichwas

sponsored by CBRE and Uría Menéndez.

some of themajor global giants in the investment

industry, such as Castelake, CBRE GI, Blackstone,

AXAREIM and Schroeders, amongmany others.

There was also contribution from the main SO-

CIMIS and listed companies in Spain – such as

Colonial, Neinor and Hispania – aswell as SAREB,

the company that manages the disinvestment

process of Spanish banks in real estate assets.

Development and residential prod-

ucts are increasingly attractive

In other words, while Madrid, Lisbon and Bar-

celona and the offices, retail, hotel and logistics

segments still tend to be the principal focus of real

estate investment in Iberia, this conferencemade it

clear that, due to the rise in demand for this region,

investors nowconsider purchasing assets located

in other Iberian cities and in alternative segments.

Entering real estate development projects as an

alternative to purchasing consolidated income

assets is one of the possibilities, and assets aimed

for the Spanish residential rentalmarketwere also

pointed out as interesting options.

Average ticket size continues to rise

Exponential growth in bothmarkets and the evi-

dent recovery of the Iberian economy, confirmed

in an analysis by the economist Daniel Lacalle,

are other factors noted by investors, who also

mentioned the healthy rise in the average ticket

size, in a market where sustainable returns are

beating European records.

According to data presented by MSCI at the

event, even despite the most challenging years

faced by the Iberian economies, the property

market in Iberia has generated investors an av-

erage annual return of 7% over the past 16 years.

The Iberian real estate market

«is truly vibrant,

full of opportunities and, at themoment, extremely

interesting»

, stated Rupert Nabarro, Chairman of

the event, founder of IPD (nowpart of MSCI) and

one of themost recognised names in the British

real estate community.

Brexit: challenge or opportunity?

The impact of the United Kingdom’s exit from the

European Unionwas another topic on the table. In

the opinion of the event’s participants, one of the

main advantages of Brexit for the Iberian property

market will be in occupier markets, considering

the relocation potential not only of European

institutions, but of companies that aim to interact

with European markets in an open regime and

will no longer be able to do so from London.

Nonetheless, everyone agreed that, until the

negotiations of the exit conditions are completed,

it is hard to predict the negative effects of Brexit

on the UK and the rest of Europe.

Francisco Horta e Costa, CBRE Lisbon

Mikel Marco Gardoqui, CBRE Spain; Javier Hortelano,

Catella Asset Management; Pedro Coelho, Square

Asset Management; Paulo Sarmento, Meyer Bergman

Tim Kesseler, EPRA; Juan Velayos, Neinor Homes;

Cristina García-Peri, Hispania; Carmina Ganyet,

ColonialPedro Coelho, Square Asset Management;

Paulo Sarmento, Meyer Bergman