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April 29, 2016

Investments in Spain are growing

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Investments in Spain are growing

Recent studies on the economics confirm the fact that the interest of investors in the property sector in Spain is still very much alive and intense. For example, the company Cushman & Wakefield confirms that during the first three months of this year, the country of the Iberian peninsula attracted around 2,400 billion euros of investment, which is 20% more than in the period from January to March 2015.

All these resources have been invested during 40 operations, among which above all stands out a purchasing of a portfolio of office buildings acquired by Metrovacesa. Therefore, it became the property sector in Spain that gathered together most of the investments made, i.e.  the 51% of the total, or 1,200 million euros.

As indicated in the published report of the consulting company, the office sector in Spain is followed by the retail sector, which concentrated the 36% of the total investment. The main operations during the first quarter of 2016 in this case  was the acquisition of a portfolio of buildings of the supermarkets Eroski by the company Invesco, totaling the 358 million euros; and the portfolio of offices in Madrid and Barcelona, ​​belonging to the financial corporations BBVA, Santander and Banco Popular, which today is owned by the company Metrovacesa.

One of the main conclusions of the report on the property market in Spain is that there is currently a high demand for office spaces in the market and there are a limited number of quality facilities, which in turn leads to increase of the prices of buildings and real estate in Spain.

"The lack of office space of high quality has made it difficult for companies to find a suitable place for their offices, leading to a decrease in the level of renting and sales, but at the same time, to an increase in rental rates in the best areas of Madrid and Barcelona due to decreased availability of the best amenities,"- said the CEO of Cushman & Wakefield.

This potential growth in rental rates of office buildings in Spain has already been registered since last year and "is one of the main reasons why the interest of investors to take a leadership position in Spain will stay alive and intense during the coming year", – say the experts of the consulting company.

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