According to data published by CBRE, Spain is the sixth largest country in the European Union for real estate investment during the first 9 months of 2016, with investment amounting to €6.438 billion.
In fact, Spain accounted for 4% of the total amount invested in real estate across Europe, which amounted to €163.095 billion in total, down by 16% compared to the same period last year.
The hotel sector accounted for most of the investment in Spain during the first nine months of the year; the country was third in the ranking for hotel investment in Europe.
The retail sector also performed well. It grew in Spain with respect to last year allowing the country to position itself as the fourth largest destination for retail investment in Europe.
Although the volume of investment in the tertiary sector in Spain during the first nine months of this year was lower than the figure recorded last year, CBRE thinks that it is likely that the final figure for the year will be in line with the previous two years.
All of this does not include the transactions that Merlin has completed this year, with its purchase of Testa and its merger with Metrovacesa.
As a result this data is indicative of sustainable activity, which “distances itself from another potential bubble”.
Of the 28 countries in the European Union, the United Kingdom leads the ranking in terms of real estate investment, with a total investment volume of €45.915 billion during the first nine months of the year.
The UK is followed by Germany (€32.700 billion) and France (15.793 billion). Sweden and The Netherlands are ranked in fourth and fifth places, respectively.
Nevertheless, Sweden recorded the highest increase in investment volumes (31%) compared with the same period last year, followed by Denmark, up by 21%.