Real estate investment in Spain, outside the great urban centres of Madrid and Barcelona almost doubled during the first quarter of 2020 when compared to the same period of 2019. In total 1.28 billion euro were invested on these territories.
This fact is made clear in the latest Other Spain Report from Iberian Property, which further shows that of the 24 operations concluded at the beginning of the year, 4 are above 100 million euro. And together they represent 64% of all investment. The largest of these operations was the sale of intu Asturias, in Oviedo, to ECE European Prime Shopping Centre Funds for 290 million euro.
Despite this growth having taken place in only 12 months, investment on these regions dropped 27% when compared to the previous quarter when it reached 1.75 billion euro, the highest number of the last 4 quarters. This quarter also registered the highest number of deals – 30 – and the highest ticket per deal – 58.4 million euro. This indicator was at 53 million euro per deal during the first quarter of 2020.
In Spain, outside Madrid and Barcelona, retail is the most sought segment (28% of all investment last year), followed by offices (25%), logistics (18%), hotels (15%) and alternative assets (14%).
In terms of the most active players in these Spanish cities, asset managers and investment funds are on top representing almost half of all investment, followed by REITs (22%), private equities (17%) and insurance companies and pension funds (5%).
All the information is available at the Other Spain Report from Iberian Property which can be downloaded HERE.
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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 multi-location portfólios are included in this analysis if there are no data available that allows Iberian Property to estimate the exact investment value for each location. The results presented here may be updated if new information is issued.