5th Floor, Brigade Towers,
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The Commercial Real Estate Market in Spain is segmented by Type (Offices, Retail, Industrial, Logistics, Multi-family, and Hospitality) and Key City (Madrid, Valencia, Barcelona, and Catalonia).
Spain's economy currently looks positive with a forecasted GDP of nearly 2%, in the coming years.
This report aims to provide a detailed analysis of the Spanish commercial real estate market. It focuses on the market dynamics, technological trends, insights, and government initiatives taken in the commercial real estate sector. Also, it analyzes the key players present in the market and the competitive landscape in the Spanish commercial real estate market.
|By Key City|
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The Spanish office real estate market remained stable throughout 2018. One of the key events that occurred was the purchase of a Barcelona-based Diagonal de Barcelona complex for EUR 250 million by Blackstone. The deal was important because not only did it demonstrate investor confidence in the Catalan capital, but it also turned out to be the largest single-asset transaction in Spain
The offices witnessed an increased demand across key cities in Spain, such as Madrid and Barcelona. In 2018, the office take-up reached around 5,41,000 sqm in Madrid, with most of the take-up by service and tech companies. In Barcelona, international companies saw an increased take-up in the office space, in 2018.
Due to the rising demand for office spaces in the country, the vacancy rates for the office market reduced significantly, especially in cities, like Madrid and Barcelona. The average vacancy rates of office space in Europe stood at 7%, as of 2019, with Madrid and Barcelona’s vacancy rates reducing to 9.5% and 6.1%, respectively. The vacant space is expected to continue reducing in both cities, with high levels of take-up forecasted for the coming two years, which may increase the demand for the office market in the country.
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The retail sector is performing quite well in the Spanish real estate market. Breakthroughs in technology and the greater influence of the younger generations are two of the main reasons for this rising demand in the retail sector.
In Spain, 17 new shopping centers are expected to open before 2021. In 2018, three shopping centers and five retail parks were added in Spain, adding a GLA of nearly 262,000 sqm to the stock. In 2019, around 16 projects were under construction, which were expected to add an estimated GLA of 300,000-350,000 sqm to the retail market. Expansion is more likely to be witnessed in the retail markets, including sporting goods, cosmetics, food and beverage, home, etc. Increasing development activity in the shopping center sector may also give a boost to the retail real estate sector.
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The commercial real estate market in Spain is fragmented, with the presence of both local and international players. Some of the major players operating in the commercial real estate sector in the country include Merlin Properties, Via Celere, Kronos Investment Group, and Klapierre. The country is also witnessing an increase in international investors, as its economy is rebounding, with some of the international investors from countries, like the United States, the United Kingdom, France, and Germany.
1. MARKET INSIGHTS
1.1 Current Economic Scenario and Consumer Sentiment
1.2 Commercial Real Estate Buying Trends - Socioeconomic and Demographic Insights
1.3 Government Initiatives, Regulatory Aspects for Commercial Real Estate Sector
1.4 Insights into Existing and Upcoming Projects
1.5 Insights into Interest Rate Regime for General Economy and Real Estate Lending
1.6 Insights into Rental Yields in Commercial Real Estate Segment
1.7 Insights into Capital Market Penetration and REIT Presence in Commercial Real Estate
1.8 Insights into Public-private Partnerships in Commercial Real Estate
1.9 Insights into Real Estate Tech and Startups Active in Real Estate Segment (Broker, Social Media, Facility Management, and Property Management)
2. MARKET DYNAMICS
3. MARKET SEGMENTATION
3.1 By Type
3.2 By Key City
4. COMPETITIVE LANDSCAPE
4.1 Market Concentration
4.2 Company Profiles
184.108.40.206 Merlin Properties
220.127.116.11 Via Celere
18.104.22.168 Kronos Investment Group
22.214.171.124 Quabit Immobilaria
4.2.2 Other Companies (Real Estate Brokerage Firms, Startups, Associations, etc.)
126.96.36.199 Colliers International
188.8.131.52 AGP Real Estate Investment
184.108.40.206 Lusa Realty
220.127.116.11 Inmobilaria Cambas
18.104.22.168 Target Spanish Properties
22.214.171.124 Spain Properties Invest
5. FUTURE OF THE MARKET AND ANALYST RECOMMENDATIONS
6. INVESTMENT ANALYSIS
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