The data from CBRE indicates that the volume of investment in Spain during the third quarter led to a significant boost in the end of the year figures, to a total of more than 6.300 million euro, double last year’s amount and the highest ever reached in the third quarter.
According to this consultancy firm, until the end of the third quarter, investment in real estate reached 13.385 millon euro, about 34% more yoy. If we exclude corporate operations, the amount is 7.600 millon, 16% below the 8.800 millon yoy.
Right now, there is great activity concerning the pipelines in all real estate segments. The predictable conclusion of many constructions in the last quarter of the year, indicates that 2018 will be a very good year and might end with levels of investment above 16.000 millon euro, much more than the 12.750 millon of 2017.
«The evolution of real estate investment has been very positive and confirms the apetite for the Spanish real estate sector from investors both domestic and foreign», remarked Adolfo Ramírez-Escudero, CEO of CBRE España. During this year so far, national investors represent 42% of investment and international investors represent 58%, and both see in Spain a market with great potential, and show interest in the entire spectrum of assets’ typologies. REITs (included in the national data) encompass 32% of investment so far this year, boosted by the corporate operation from Inmobiliaria Colonial.
In Spain, the office segment has taken the lead once again, with 28% of all investment, after a quiet year in 2017. The hotel sector, after having had an extraordiany year in 2017, keeps enjoying a great moment thanks to the high in the economy and tourism and has attracted 24% of all investment. The retail segment keeps strong and encompasses 23% of all investment, thanks to the trading of several shopping centres’ portfolios and high street stores. Logistic investment encompasses 9% of total investment so far this year.
The residential segment, which does not include terrain sales, but only rented assets, has increased its volume significantly compared to last year and represents 13% of all investment. This is shown by the almost 2.000 million invested until now in the Spanish rental residential segment.