Real estate investment in Spain accumulates 4,680 million euros in the first half of the year, which translates into an increase of 9% compared to the same period in 2020 , according to data from BNP Paribas Real Estate.
Thus, the volume of direct investment made in office, retail, logistics, hotel, residential rental and alternative assets between the months of April and June was 2,816 million euros. This figure represents an increase of 50% compared to the previous quarter and 203% more than the same quarter of 2020.
The logistics sector continues to consolidate as a favorite and accounted for 42% of the quarterly investment volume, with 1,192 million euros . Thus, the investment registered in the first semester reaches 1,456 million euros, a figure that represents almost 95% of the total investment registered in 2020.
This fact represents 211% more than the first semester of 2020 and 79% 2019, a record year in the historical series. In the activity registered, the acquisition by Bankinter of the portfolio of 865,000 m2 of assets such as logistics platforms and 13 projects in different phases of development stands out.
The office sector accounts for 21% of the investment
The office sector is recovering dynamically from the pandemic and accounts for 21% of investment, with a volume of 600 million euros in the second quarter , according to the report’s data. In this sense, the leading role is played by 22 @, since it concentrates 62% of the investment registered in Spain between April and June.
Although the accumulated investment volume in the first semester exceeds 800 million euros, there is an adjustment of 40% compared to the same period in 2020, because in the first quarter of last year the registered volume was 1,228 millions.
For its part, investment in the hotel sector stood at 350 million euros, with Catalonia as the market most in demand by investors, bringing together more than 45%. Madrid, Marbella, Mallorca, Seville and Cádiz, concentrate the rest of the invested capital .
The accumulated in the year stands at 566 million euros. Looking ahead to the second half of the year, an increase in operations is expected due to the high number of operations that are currently being negotiated, according to BNP Paribas Real Estate.
More than 300 million was captured by the retail sector, which represents 12% of the total. “There is a very high activity in the commercial premises typology, with various operations carried out in this period in the main commercial hubs of Madrid, Barcelona, Valencia and Vigo”, point out from BNP Paribas Real Estate.
Regarding shopping centers, “the activity registered has not been very high, highlighting the sale of the Madrid Sur center and the recent acquisition of the Parque de Ciudad Real center for an approximate amount of 17 million euros”, they add.
For their part, residences for the elderly channeled an investment of approximately 230 million euros in the second quarter, while the residential rental market accumulated around 750 million euros, 60% of the investment volume registered in all the year 2020.