The real estate sector will face this year new investment projects for about 11,150 million euros, according to the projections of the professional services firm EY, which has also evaluated the dynamism of each of the subsectors.
Following the trend of last year, residential or multifamily and logistics will be the subsectors that will absorb the largest investments and will concentrate more than 75% of the total (52.8% residential and 23.4% logistics). In third place will be the hotel subsector, with 17% of total investments.
EY's analysis differentiates between residential for sale and for rent. Thus, and accounting for only large developments, the consultancy firm has 402 new residential projects for sale throughout the Spanish market, which will add 34,417 units and absorb investments for a total of 4,130 million euros.
Regarding residential for rent or build-to-rent, the number of projects amounts to 36 with 14,920 homes and investments of 1,268 million euros. Another multifamily segment that will have an outstanding dynamism during this year is that of student residences, with 21 projects (7,650 beds) that will involve investments of 475 million euros.
The logistics will absorb investments of €2,611M to develop close to six million sqm this year
After the residential subsector, and by investment amount, is logistics, which according to EY estimates will absorb investments of 2,611 million euros this year. The promoters will launch 103 new projects this year in different parts of the Spanish market to develop 5.97 million square meters of logistics and industry.
Another sector that will perform well this year is the hotel industry, which between newly built establishments and in-depth renovations will absorb investments of 1,900 million euros. An amount that will allow the placing on the market of 125 new hotels with 13,860 rooms. The hotel segment will concentrate 17% of total investments, an amount that shows the market's confidence in the rapid recovery of tourism, one of the activities most affected by the health crisis.
Finally, the subsectors with the most doubts on the part of investors are offices and retail, which will absorb 4.8% and 2.1% of investments, respectively. In terms of offices, this year 42 projects are scheduled to start up, totaling 450,000 square meters. In relation to retail, the construction of thirteen new complexes is planned, which will total 278,000 square meters.
