A value that places the region among the most dynamic European investment markets, assuming itself as the main South European destination.
The figures were collected by RCA - Real Capital Analytics, and are in the latest edition of Emerging Trends in Real Estate Europe, the study produced by the Urban Land Institute and PwC, and which annually presents the main trends that will guide investment activity as well as the ranking of the best destinations to invest in real estate in Europe.
More than a third (37%) of the total volume transacted in Iberia in the period under analysis was invested in the Spanish capital, Madrid, which with its €7 billion placed itself in the 5th position among the European cities that attracted more capital; just behind heavyweights like London, Berlin, Paris and Frankfurt.
And also occupies the fifth place in the best destinations to invest in 2018, joining to Berlin (1st), Copenhagen (2nd), Frankfurt (3rd) and Munich (4th). "Rents are rising, there are development opportunities, and hopes that the city, too, may profit from Brexit”, states the study regarding to Madrid, which jumped four places compared to 2017.
The Iberian presence in the ranking is complete with Lisbon and Barcelona, which occupy the 11th position ex aequo among the best destinations to invest next year. But, whereas in the case of the Portuguese capital this classification represents the drop of a place in relation to the 10th place of 2017 (now occupied by Amsterdam); in the case of Barcelona the situation is opposite, comparing with the 13th position occupied in the previous year.
However, it must be consider that the interviews and the survey that were on the basis of this ranking were carried out before the October referendum about the independence of Catalonia and the current climate of political insecurity about the region's future. «At the time, Barcelona was also judged to have good prospects, though at Number 11 jointly with Lisbon, once again it sits below Madrid. The political issue of whether Catalonia could in future split from Spain is a long-standing one, but now it is not clear whether the heightened level of uncertainty about Barcelona's future will deter investors”, refers the document.
Regarding Lisbon, despite its exit from the TOP 10 in 2018, "the city is still judged «interesting due to low prices and economic growth», and Portugal's government is given credit for being flexible, creative, advanced on the tech side”, the participants said.