At least this is what can be expected based on the Real estate outlook for 2019 carried out by CBRE and presented at Tendencias Inmobiliarias, annual event which gathers the sector’s main leaders.
In this respect, the Spanish real estate sector will remain attractive in 2019, particularly for foreign investors, based on the cycle’s mature stage – although not as advanced as in other European countries –, and to the Spanish economy’s growth, which is even higher in the big cities, which boosts a greater demand in the real estate sector. This greater demand will, in its turn, boost the rise of rental prices, in particular in the housing and office sector and favour a good rhythm in the retail sector’s expansion, which will be sustained by the positive evolution of demand and tourism. The yields will remain stable with the possible exception of the thriving logistic sector, where they might drop slightly due to the high demand. The current economic cycle boosts the dynamics of the equity and debt markets, which is reflected in the conditions’ improvement and the arrival of new creditors to the Spanish market.
«In a global scenario for which moderation in economic growth is expected, Spain will keep showing a greater inertia and dynamics than the countries surronding it, at least in 2019 and for a good part of 2020» commented Adolfo Ramírez-Escudero, CBRE España’s CEO. «We are reasonably optimistic about 2019 and we haven’t yet seen any cycle change in Spain. Opportunities keep coming up and both yields and capital values are competitive compared to most European countries» he added.