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retail-shopping-centers Market News: Spanish Real Estate Intelligence

JLL: Foreign Investment in Catalan Real Estate Rose by 137% in 2018

15 June 2019 - La Vanguardia

According to data published by the real estate consultancy JLL, overseas investment in the Catalan real estate sector rose by 137% during 2018, despite the fact that total investment fell from €1.13 billion in 2017 to €995 million in 2018.

In fact, domestic investment plummeted by 85% to €363 million from €859 million, but almost all of that decrease was offset by the arrival of funds from overseas. Of those, investment funds deposited 57% YoY more in 2018 (€574 million) and Socimis invested 47% YoY more (€326 million).

Having overcome the political uncertainty seen in 2017, international investors showed their commitment to Cataluña in general and Barcelona in particular, not least because the city has been declared as one of the world’s influencer cities by JLL.

In the business context, the city is particularly attractive for investment in the office, logistics and commercial sectors, ranking in first place in all 3 markets when compared with its European counterparts.

Specifically, the Catalan capital's offices generate yields of 3.75%, whereby outperforming Milan (3.6%), London, Madrid and Stockholm (all 3.5%). Its logistics assets generate returns of 5.10%, compared with 5% in Madrid, and its shops in central locations generated yields of 3.25% in Q1 2019, compared with Madrid (3.15%) and Paris (2.75%).

All of this is welcome news for the region that has been hit hard by the political uncertainty of recent years.

Original story: La Vanguardia (by Pilar Blázquez)

Translation/Summary: Carmel Drake

 
Vivenio Invests €90M in the Purchase of 2 Buildings in Madrid

10 June 2019 - Eje Prime

Vivenio has purchased two buildings in Madrid from a Madrilenian family office for more than €90 million.

The Socimi owned by the Dutch fund APG and Renta Corporación has acquired one building located on Avenida San Luis, comprising 140 homes and 18 premises and another on Calle Hermosilla, with 80 homes and two premises.

Together, the two properties span a surface area of more than 21,500 m2.

Original story: Eje Prime

Translation/Summary: Eje Prime

 
CaixaBank will Occupy Norman Foster's New Building in Colón (Madrid)

4 June 2019 - Voz Pópuli

According market sources, CaixaBank has won the bid to acquire the iconic glass-cube Axis building that Normal Foster is building in Plaza de Colón in Madrid.

The bank has reportedly fought off competition from Tesla and Microsoft and so the property will be occupied by a sole tenant, rather than by various shops and offices as initially envisaged.

The building work is expected to be completed at the end of this year and the property will comprise three open-plan floors, with large transparent façades overlooking Plaza de Colón and Calle de Génova, as well as a rooftop terrace.

Original story: Voz Pópuli (by David Cabrera)

Translation/Summary: Carmel Drake