Record investment in real estate in Spain: €9.87 billion for the first half of 2022

Record investment in real estate in Spain: €9.87 billion for the first half of 2022

According to CBRE, real estate investments in Spain in the first half of 2022 amounted to €9.87 billion. The figure was 80% higher than the results of the same period in 2021. This is the best record in the history of the company ever.

What came as a surprise was that the growth in investment stimulated the real estate sector for retail. The total volume of transactions in this property exceeded €2.9 billion, which is 8 times more than in the same period last year. A significant transaction in this sector was BBVA’s purchase of over 630 units from Merlin, bringing 1.98 billion euros to the market.

The residential real estate sector ranked second in attracting investments and received over €2.45 billion. By the first half of 2021, the growth was 71%. It is worth pointing out that the key investor interest were the rental assets of BTR (Build To Rent) and PRS (Private Rented Sector), which received 60% of the invested funds.

About 19% of investments were made in student housing, and 18% — in coliving (property for cohabitation). Meanwhile, the hotel sector ranked third in investment in the first half of the year. This property attracted €1.65 billion, which is the best indicator for this market in the last 5 years.

The fourth-largest sector is industrial real estate and logistics, which attracted more than €1.17 billion — 12% of the total investment in the first half of the year. It is followed by the office real estate sector, which continues to maintain a strong upward trend. It raised €1.07 billion, which is 27% more than in the first half of 2021.

Finally, "alternative" market segments, such as data centers, nursing homes, coworking and so on, were active in the first half of 2022. Together, they have attracted over €600 million of investment, which is 53% more than in 2021. One of the largest categories was real estate related to healthcare, for example, nursing homes.

Miriam Goicoechea, Head of Research at CBRE Spain, points out: "Investment volumes in the first half of the year demonstrate that the Spanish real estate market continues to be attractive to investors — even in a changing macroeconomic context. However, the volatility of the market will force us to closely monitor the dynamics of investment in the second half of the year."

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