Spain received in 2015 more investment than before the crisis
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The data, published by the company BNP Paribas Real Estate, suggests that investment in property in Spain in late 2015 reached 11,700 million euros. This figure is not only by almost 70% higher than that achieved in 2014, but by 25% higher than the figures recorded in the years before the crisis. That is, at moments of maximum development of the sector.
The European statistics agency, Europa Press, also confirmed interest in buying property in Spain and the fact of the considerable increase in the number of investment transactions: in 2015 there were registered 271 transactions, compared with 169 during the previous year.
Within the real estate market, the major investments have been made in the purchase of residential and commercial properties in Spain that attracted further domestic and foreign investment during the two semesters. They accounted for nearly 70% of the total investment, i.e. 4,000 million euros for each sector. Therefore, the commercial centers were the most popular in the first half of last year, while investment in offices in Spain prevailed from June 2015.
However, the residential real estate sector in Spain remained a little behind, covering only 5% of the total investment, or about 600 million euros.
From the geographical point of view, the published data show that Madrid and Catalonia became the most prominent beneficiaries of investments in property in Spain, capturing 6,000 and 2,000 million euros of investments, respectively.
As for the origin of investment, foreign investors in Spain continue to play a key role. Either by direct purchase of buildings or hotels in Spain or through a stake through investment funds, investors from France, the US and the UK top the list. To a lesser extent, investors from China, the Philippines, the Middle East and Latin America are investing in the purchase of commercial or residential properties in Spain.
The hotel sector in Spain has also experienced record levels in 2015. The consulting firm JLL estimates that in buying hotels in Spain in 2015 was spent no less than 2,650 million euros, doubling thus the investment of last year. Thus, a new record was set, exceeding 1,600 million in 2006, which makes Spain the third European country with the best indicator of investment in buildings of this type, after Great Britain and Germany.
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