Despite, during the first quarter of the year, the Catalan region has had the largest number of transactions since the beginning of last year, the total amount invested did not go beyond 393 million euro. This can be explained by the high number of smaller operations concluded in the region.
As shown by the graphic, the average ticket per operation during the first quarter of 2020 was 24.6 million euro, the lowest since the beginning of last year, as shown by the Catalonia Report compiled by Iberian Property.
Behind these numbers, is the fact that 12 out of 16 transactions were concluded for less or equal to 25 million euro. The largest transaction was the sale by the American fund KKH to Nortia of the retail space located at Paseo de Garcia 109 in Barcelona for 100 million euro. The second-largest transaction was the sale of the office building, which is currently the headquarters of PepsiCo, by UBS to British Aberdeen for 60 million euro. The thirst-largest operation was the purchase of building Almogàvers 185 by Swiss Life for 49 million euro and the fourth was the purchase of Ona Hotel Terra by Principal Real Estate for 40.5 million euro.
The Catalan region lost part of its share of the total real estate investment in Iberia, which during this quarter was only 9%. Nevertheless, data from the report shows that the aggregated investment in the region during the quarter is 75% higher than the investment it received last year during the same period. When compared to the previous quarter, though, it shows a 7% drop.
All the information is available at the Catalonia Report from Iberian Property which can be downloaded HERE.
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Last Update: 13/07/2020 at 3:20pm
Disclaimer: This information is based on public data gathered within the platform Iberian Property Data. All estimates were calculated based on registered public information and data from the main consultants within the market. It should be noted that the results presented here may be updated if new information is issued.