Investment in the real estate sector in Spain will register around 17,500 million euros by the end of 2022. This is according to the latest real estate investment data forecasts provided by CBRE.
For Paloma Relinque, Director of Capital Markets at CBRE Spain: "This investment figure shows that the real estate sector in Spain continues to be attractive to investors, even in a changing macroeconomic context. So much so that we foresee a fairly positive year-end, with investment levels similar to those achieved in 2018. Looking ahead to 2023, we will observe greater investor caution, especially during the first half of the year".
In all the investment in 2022, the Living sector stands out, which is expected to accumulate between 24-26% of the investment, while between 2016 and 2021 it accounted for 18%. "This segment has reached record levels of cumulative investment since records have been kept and is positioned above pre-pandemic levels as a result of a scarce supply in the face of high demand and investor interest," adds Miriam Goicoechea, Director of Research at CBRE Spain. The second sector that will receive more investment in this last year will be Retail, symbolising between 22-24% of the total investment in Spain, far from the 8% observed in 2021 and 20% in the last five years.
INVESTMENT FORECAST 2022 VS (2016-2021) BY SECTOR (%)
The office sector will be the third largest segment in terms of investment volume in Spain in 2022, representing between 14-16% of total national investment, significantly lower than the average for the last five years, which was 24%. In terms of take-up, the forecast for the year-end office contracting in Madrid and Barcelona amounts to 800,000 square metres, following in the wake of the data for 2021 and returning to pre-pandemic data.
Other sectors that will play a key role in real estate investment by the end of 2022
Within the total investment forecast for the real estate sector in Spain, the Hotels segment will represent between 14-16% of investment, slightly lower than the 24% investment reached last year and 20% in the 2016-2021 period. On the other hand, Industrial & Logistics will account for between 12-14% of investment in 2022 and very much in line with the 12% obtained in the last five years, in addition, Healthcare-related assets will represent between 6-8% of total national real estate investment, exceeding the 2% achieved in the last five years. Finally, the Alternative sector, which includes car parks, storage rooms, etc., will close 2022 representing between 1-3% of national investment, in line with the figures for 2021 (3%). "Although five years ago the Office segment led the investment with an average of 24% of the total investment, now the Living sector leads the ranking with a quarter of the volume transacted in the market. This shows a change of trend in the type of product in which investment interest is being concentrated in Spain," concludes the Director of Research at CBRE Spain.
