This means that, according to the consultant, the country’s real estate market should attract around 9.2 billion euro.
Amongst the segments which will benefit from the investment are logistics, offices and the alternative segments such as student and senior residences. Hotels, hyper and supermarkets will also receive more investment, following the trend of the second half of 2020.
2020 should close with an investment volume of around 7.8 billion euro, a number which, despite being 35% lower than 2019 is nevertheless «higher than any year during the previous crisis which took place between 2009 and 2013», revealed the consultant.
But it should be noted that at the end of 2019 Cushman & Wakefield had already forecast a reduction of around 15% as a consequence of the smaller boost towards economic growth and the lack of product by investors during 2017-2019. In this sense, it can be said that the market capital cycle itself explains a third of the fall and the pandemic the remaining two thirds.
The sector focused on the core and core+ markets, more stable and with fewer price adjustments, with fewer value-add operations, since the distance between buyers’ expectations and sellers is wider. The vulture market has been practically non-existent.
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