8 July 2015 – El Economista
10.9% more companies were created in the Spanish RE sector in 2014 compared with 2013, according to data published by Infoempresa.com. Specifically, the sector accounted for 3% of all new companies, with total subscribed capital of more than €1,200 million.
At the company level, subscribed capital amounted to €453,000 on average, an amount that was only exceeded by companies in the energy sector.
In this context, Madrid led the ranking with the incorporation of 1,428 companies in 2014, accounting for 21.5% of all new companies in the sector. It was followed by Barcelona, with 868 new companies (13.1%), then Málaga, with 619 (9.3%), Alicante, with 409 (6.2%) and Valencia, with 351 (5.3%).
Increase of 23% since 2011
5,354 new companies were registered in the real estate sector in 2011, but that number had increased to 6,634 by 2014. The figures represent an increase of 23.9% during the period.
In total, 26 Spanish provinces have experienced an increase in the number of companies dedicated to real estate activities between 2011 and 2014.
The new companies in the real estate sector in Spain include private limited companies, which experienced a 24.3% increase between 2011 and 2014; and public limited companies, which increased by 15.5%.
Nevertheless, the figures for 2014 still fall a long way below the levels seen during the years before the crisis – more than 100,000 new companies were registered in the sector in 2008. Thus, from those maximum levels, Madrid has experienced a decrease of 40.7%, followed by Málaga (28.9%) and Alicante (19.6%).
Original story: El Economista
Translation: Carmel Drake