13 November 2017 – Expansión
Between January and September, tertiary real estate investment amounted to €9,600 million, of which 33% corresponded to commercial properties.
Non-residential real estate investment grew by 47.7% YoY during the period, according to data from the real estate consultancy Laborde Marcet. This increase was observed across all types of assets, with growth of 36% in the case of commercial properties, which accounted for 35% of the total volume. The purchase of offices amounted to €2,688 million during the 9 months to September, up by 65.4%, whilst investment in hotels rose by 75.8% to reach €2,400 million and investment in logistics increased by 10.8% to €1,152 million.
In the specific case of the third quarter, real estate companies and investors spent €3,370 million on non-residential real estate operations, 24.4% more than in the second quarter (€2,710 million), although 4.2% less than in the first quarter, when investment exceeded €3,500 million.
If the strong performance of the first three quarters continues and as we wait to see the final impact of the sovereign challenge in Cataluña, the experts at Laborde predict that the investment volume for the full year will amount to €12,800 million, up by 15% compared to 2016.
Original story: Expansión (by Rocío Ruiz)
Translation: Carmel Drake