In the first quarter of this year, investments in Spanish retail real estate reached 428 million euros, representing an annual growth of 113%. This is also a 51% increase compared to the previous quarter. The international company JLL shared this information.
According to JLL, in the first quarter of 2022, a "sub-segment" of the retail real estate market associated with shopping centers received investments of 162.5 million euros. This is a 333% increase compared to the figures of the fourth quarter of 2021.
Retail investments are still focused on the safest assets – real estate of the highest category.
In logistics, the volume of investments in the first quarter was 865 million euros, an increase of 432% compared to the same period last year. Compared to the fourth quarter of 2021, this was a 65% increase.
This growth is the best indicator for this market segment since 2017. In annual terms, this is the highest indicator of the last five years. About 80% of the total volume of transactions in the first quarter were related to logistics asset portfolios.
JLL estimates that 2022 will once again be a record year for logistics: there is a pool of investors ready to invest in Spanish real estate, and at the same time, the market is forming new logistics hubs, which should become attractive assets converted into large investment transactions.
Overall, the total volume of investments in commercial real estate (offices, logistics and retail) reached 1,716 million euros in the first quarter of 2022.
These figures show an annual growth of 191% and 7% compared to the last quarter of 2021. The total volume of real estate investments in Spain is 3,817 million euros, which is 141% more than in the same period of 2021.
Sergio Fernandes, Head of Investment at JLL, highlighted the ability of the Spanish real estate market to attract capital: "Between January and March 2022, we reached higher levels than in 2021 in all segments of the sector. This is due to free capital on the market and its recovery in almost all real estate sectors."