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Real estate investment in Catalonia grows a 38% during the third quarter exceeding €800M
- The office sector is the prime mover of this growth representing 55% of the total
- The industrial and logistics sector comes right after multiplying by seven its earned investment
According to data from the report by the consultancy firm CBRE, real estate investment in Catalonia grew a year-to-year 38% by the end of the third quarter, and reached €808M primarily driven by the office, industry and hotel sectors.
The office sector is the prime mover of this growth with an investment volume of €445M, a figure that represents 55% of the total and doubles the amount reached during last year’s same period, when only €193M were accomplished.
In this sense, since January, the demand from foreign investors has entailed the growth of office surface hiring in Barcelona, showing record figures for the first nine months of 2018. In this way, between July and September more than 100,000 m2 were hired. Flexible spaces stand out, as those offered by Regus, WeWork or Utopicus, among others.
The industrial and logistics sector comes right after the office one. The former achieved multiplying by seven its investment earned during the third quarter up to €163M. The hotel sector reached €111M and the residential one €44M. This entails increases of 62% and 170% respectively.
At the same time, the retail sector closed its first nine months of 2018 with an investment level slightly superior to last year’s: €123M, a 8% more.
In relation to their origin, the CBRE report states that 61% of the real estate investment in Catalonia during 2018 came from abroad, being the USA and UK the main investors, with a 42 and a 25% of market share respectively.
Despite the upturn between July and September, the total investment figure during the first nine months of 2018 is €1,286M, a 29% less than that of last year’s same period.
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