Investment In Spain’s Property Assets Rises 50% In Q1’17

Spain's property assetsTorre Agbar, Barcelona

Investment in property assets in Spain rose 50% to 3.417 billion euros in the first quarter of 2017 from a year earlier, according to a report by CBRE.

The segment which attracted the most interest was retail (commercial centres and premises) which accounted for 40% of the total investment. This compares with 19% for offices, 17% for hotels, 13% for residential property, 7% in logistics and the remaining 4% in other trophy assets. International investors accounted for 70% of the total investment made. The significant acquisitions of trophy assets are behind the high property investment numbers in the first quarter. These include Int Properties’ purchase of Madrid Xanadú (€530 million) and Merlin Properties’ acquisition of Torre Agbar (€142 million). The pace will slow over the rest of the year, but the high levels of liquidity in the market combined with a lesser degree of political uncertainty, will allow annual investment to reach nearly €10 billion. And this is higher than in 2007.

 

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.