2015: Real Estate Investments in Spain


IREA, provider of financial advisory services and strategic specialized in real estate and hotel has recently published the Report on the Real Estate Sector in Spain in 2015, from which we quote the following paragraphs.

The Report of the Investment in real estate in Spain, 2015

The growth experienced by the economy in 2015, together with the recovery of confidence by consumers, have been key factors behind the large volume of foreign capital invested in the Spanish market and the high number of registered operations.

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Real estate investment in Spain in 2015

2015 ended with a total volume of investment in real estate of M€21,983 figure that confirms the dynamism which has entered the sector since 2014.

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Real estate transactions

Transactions of real estate assets have accumulated an investment of M€12.848, M€11.487 of which match the investment recorded by the tertiary sector, reaching 89% of the total investment. The offices market leads the investment in this sector, with a level of investment of 39% and an increase of 95% compared to 2014.

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Meanwhile, the hotel sector reached in 2015 its highest performance of all times recording a level of investment of M€2.614 and exceeding by more than 50% the figure recorded in 2014, M€1.081

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In 2015 there has been a stage of improvement and recovery of the residential market:

– The residential market has seen a remarkable increase in the volume of investment reaching a total amount of € 1.361M (+ 65% compared to 2014).

Land operations become a new investment target after several years absent from the market, having closed operations in 2015 for a volume of M€929, (+ 169% compared to 2014).

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Investment in land for residential development is triggered for the first time after the crisis, stacking up M€706, a figure that has sevenfold compared to its level in 2014.

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Real estate companies (43%) and international investment funds (38%) account for 81% of land operations, creating in many cases alliances during the purchasing operations and subsequent promotion.

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Purchasers’ profile

Investors based in Spain, SOCIMIS and domestic investors, have taken over 61% of investment in assets.

Sellers’ profile

Real estate companies of domestic origin have increased 6.75 the sales of real estate assets taking advantage of the new market liquidity to divest their portfolios.

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Financial entities, after years leading the divestment of assets, spend this year in a second place with 5% of the total divestiture, another sign of the normalization in which has entered the sector.

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From the point of view of funding is expected that domestic financial institutions continue to increase the volumes of capital for the real estate sector and improving the conditions for granting financing to investors and developers consolidating a trend started in 2015.

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Logistics, hotels and residential development will be the most attractive markets for investors in 2016. The logistics sector needs development and adaptation to the new business models and will be driven by the growth of e-commerce, which in Spain has a growing weight in domestic consume.

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 Regarding the residential market, greater access to mortgage funding and the interest of developers and funds to invest in this market will strengthen further such activity.

SOURCE:  IREA http://www.irea.es

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