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November 21, 2014

Recovering of the real estate market goes with double speed

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Spanish real estate industry is recovering on two fronts and with double speed – so say the experts of the company CB Richard Ellis, confirming their opinion with statistics. Investments in office buildings, hotels and resorts have doubled this year and will exceed 9,000 million euros. This figure is almost back to the amount of capital that has been invested in the commercial sector in 2006, prior to the bursting of the so-called real estate bubble. At the same time, the housing market seems still cannot find a pulse and remains at a level almost identical to last year, with average monthly sales of 27,000 objects. Only one of the three housing transactions takes place with the participation of new properties, as experts say, that prevents the abolition of more than half a million homes in Spain.

Since last summer, buyers and investors from around the world are betting for a property in Spain, especially in Madrid and Barcelona. This year was closed transactions such as the sale of the building of the Bank of Santander to the Chinese company Dalian Wanda Group for 265 million euros. At the last real estate exhibition Barcelona Meeting Point, some US investors have even expressed concern that has already passed the time to find the real estate assets at good prices. Together with them, have attended the event other key players in the real estate market at the moment: the representatives of listed investment companies (REIT) and platforms for real estate and for the recovery of loans that are based on bank assets.

Capital of 6.500 million euros, according to the company CB Richard Ellis, came to Spain till September 2014 inclusive. The company also estimates that the current year will be closed with a total investment of 9,000 million euros. “This means that it was done twice more investment than last year, and three times more than in 2012 and the opportunity to return to the levels of 2006 or 2007,” says vice president of consulting, Enrique Martínez Laguna. The two main buyers of real estate assets are these who manage funds, with 35% of the total, and the companies of investments in real estate (30%).


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