• Transaction / Assets
  • Seller
  • Buyer
  • € MM

Real estate investment in Spain drops by 45% in 2012.

The drop in prices and the need of banks and great companies to obtain liquidity through the sale of their assets have not been enough to boost the real estate sales in the Spanish market.

In 2012, the non residential real estate investment decreased in 45% reaching 1806 million Euros, according to the Real Estate Area at Deloitte. This investment was divided into 52 operations, among them the acquisition of the headquarters of BBVA in Barcelona by the owner of Inditex, Amancio Ortega, which was finalized in the last days of December. The total amount of this acquisition was around 100 million Euros.

The office segment is precisely, along with main street premises, the one providing a higher volume, around 505 million Euros, although still very far from the figures reached in previous years. In 2011, this real estate area registered a volume of 970 million Euros, 400 million of which corresponded to one single operation: the acquisition of Torre Picasso by Pontegadea.

In hotels, there have been ten purchase operations, with an investment volume of 295 million Euros, 64% less than on the previous year. The acquisition of Hotel Barceló Raval by the German fund Union Investment, who paid 40 million Euros, stands out in this area.

As for malls, acquisitions have dropped by 47% down to 1051 million Euros. The acquisition of the mall Avenida M-40 in Madrid by the Venezuelan group Sambil for 17 million Euros stands out.

Source: Expansión