Overview
2022 closed with a volume of around €13.2bn in investment transactions in Spain, 14% higher than the figure recorded a year ago. Investment was mainly in the retail (32%) and office (20%) sectors, followed by residential (19%) and hotel (20%).
The residential sector has established itself as an option of great interest to investors with more than €2.3bn of investment in Q1-Q3 2022. Sales prices have experienced the largest increase in the last decade.
Spanish office investment market reached €2.5bn in 2022. For the rental market, a total of 405 rental deals were registered in Madrid in 2022, with prices in line with those prior to Covid-19. In Barcelona, there have been a total of 331 office rental deals, above those registered in 2019.
The retail sector made a strong comeback in 2022 and has been the segment with the highest investment, around €4.5bn. The interest in the High Street sector in the main Spanish cities remained flat, as well as prime rents in shopping centres and medium-sized parks.
Logistics demand remains robust although accelerating construction costs and raw material shortages continue to delay many ongoing projects At the same time, demand for logistics warehouses by ecommerce operators has moderated compared to two years ago.
In the Hospitality sector, the investor trend remains upwards, which was due to excess liquidity and the existence of good opportunities as a result of the impact of Covid. The result is the third best record annual volume in the history of the sector (€3.3bn).
In this report, we have analyzed the evolution of the principal real estate sectors during the second half of 2022.
We hope you find it interesting and helpful.
