According to data of Savills Aguirre Newman, the volume of investment in retail planned for the next months rises to €2,500 million, after a particularly active January, marking an investment volume of €660 million with two mega-operations in January, the sale of a portfolio of Inditex places and the Parque Corredor operation.
The offices segment also predicts a year with a strong investment, since, according to the data of this consultant, there are already operations planned for a volume of more than €2,000 million. In the first month of the year, offices have registered operations worth €210 million.
The start of the year in tertiary investment now reaches €910 million, 40% of the total volume of the first quarter of 2017.
These data consolidate the trend of 2017, which has set a record of the last decade, reaching €9.200 million of direct investment in the tertiary market and second highest in the historical series, just below the €10,700 million reached in 2007.
Within the tertiary market, hotels and retail registered record figures in their respective historical series: €2,400 million in transactions in direct investment in hotels (44% more than in 2016) and €3,500 million in retail (18% more than in 2016 and volume that represents 40% of the total investment in tertiary). Meanwhile, offices and logistics, segments marked by the lack of product, have registered reductions regarding the investment of 2016 due in both cases to the shortage of assets available in investment.
The yields in prime product of the tertiary market have remained stable during 2017 and according to forecasts will remain stable in 2018. Only medium-sized parks, still above the pre-crisis level, will accept some adjustment, as well as some prime assets (shopping centers or offices) in consolidated secondary locations.