Overview
After the uncertainty brought about by the Covid-19 pandemic, the figures from the second half of 2021 reveal a stable and positive outlook for the Spanish economy to return to pre-pandemic levels by the end of 2022 or beginning of 2023. Spanish GDP has experienced a 5.2% YOY increase, which is positive but far from government and expert estimations from the beginning of the year.
The Spanish residential sector has once again proved its resilience in terms of both price and volume of investment, with a 21.4% increase in year-on-year residential transactions in Q3 of 2021. Despite the difficulties that the pandemic brought to the office sector resulting in an increase in teleworking, all indicators of this sector have improved, revealing a €2,500m investment volume in 2021.
The retail sector has varied greatly throughout the pandemic, but we are beginning to see the sector stabilize and recovery of rental prices is expected in 2022. Finally, the logistics sector continues to grow at a stable rate with an investment volume of €2.35bn seen in 2021.
In this report, we have analyzed the evolution of the principal real estate sectors during the second half of 2021.
We hope you find it interesting and helpful.
