25 June 2019
The logistics sector in Spain is booming due to the public’s ever-growing use of e-commerce. Investments in the sector reached 2.4 billion euros last year. According to a report by Solvia, the real estate servicer recently acquired by Intrum, the sector grew by 20% between March 2018 and March 2019 as more than 7 million square meters of logistics spaces were taken on. Solvia also warned that supply is beginning to tighten in the larger Spanish cities.
The rental market for logistic assets is still strong as well. Rental income in Madrid and Barcelona is currently close to 5 and 6 euros per square meter, respectively. Profitability also remains high, with average gross return rates at 7.3%.
According to Solvia, Madrid, Barcelona, Zaragoza and Valencia accounted for 50% of the sales of logistics assets in the last twelve months. Just in Madrid, buyers acquired more than one million square meters between March 2018 and March 2019.
Original Story: ABC – Guillermo Giné