As we have been saying for several months now, 2018 has been a fantastic year for Spanish property in terms of increased monthly and quarterly sales statistics, a sustained nationwide average home value growth and reactivation of employment and company creation within the sector…
The latest good news is not necessarily in the residential sphere, but rather in overall real estate investment from funds and institutions abroad.
CBRE, the largest commercial real estate services and investment firm in the world, values the investment in Spanish property to be 13,385 billion euros for 2018 as at the end of September, forecasting a total volume of investment of over 16 billion euros for the calendar year.
Of this figure for the first nine months of 2018, 28.1% was invested in the office segment, while the hotel and retail segments had a similar financial backing, with 23.7% and 22.9% respectively.
To put this projected volume of investment into perspective, 16 billion euros would supersede any single year for the past decade. In 2017, for example, the figure stood at 12.75 billion euros for the whole 12 months.
With more cash being injected into the Spanish economy, whether it be through corporate operations and acquisitions or simply by large companies – especially finance and banking institutions – placing their trust and headquartering in Spain, the positive ramifications will surely be felt in other areas of life; for instance, improved infrastructure, employment conditions and even public services through taxation.