The Spanish real estate sector has recovered and has beaten the real estate investment historical record. Thus, during the first six months of the year real estate investment reached 9.870 million euro, exceeding by 80% the amounts registered during the same period last year (5.479 million euro) and closing the first semester with the best data since there is a historical record, according to CBRE.
«The investment volumes registered during the first half of the year show that the real estate sector in Spain continues to be attractive to investors, even within a changing macroeconomic context. In any case, the volatility within the market will lead us to closely follow the evolution of investment throughout the second half of the year», stated Miriam Goicoechea, Director of Research at CBRE Spain.
Investment by segment
During the first half of the year, the Retail segment led real estate investment, with a total of more than 2.900 million euros, 8 times higher than the investment registered during the first half of 2021. This is the real estate segment which has grown the most during this semester, strongly driven by BBVA's purchase of more than 629 branches from Merlin for 1.987 million euro, which accounted for 70% of all investment in Retail and 30% of all investment.
Behind Retail, came the Living sector ranked in second in terms of investment with 25% of the volume transacted (2.451 million euro) and with a 71% yoy increase. As in previous quarters, the Build to Rent and Private Rented segments continued to lead investment, aggregating 60% all investment made in residential properties. Nevertheless, the operations within less traditional segments carried out until now in Spain, are starting to bounce back, mainly with the boom in operations within the student residences segment (which accounted for 19% of investment in Living) and Co-living (18%).
The hotel segment ranked third in investment volume, reaching 1.650 million euro traded, the best figure in five years for a first semester.
The Industrial and Logistics segment ranked fourth in terms of real estate investment, having registered 1.175 million euro, representing 12% of all real estate investment and it was followed by the office segment, which maintained its upward trend and had total of 1.075 million euro traded during the same period a 17% yoy increase.
Finally, the alternative segment registered a high activity during the first half of the year with more than 600 million euro transacted, a 53% yoy increase, with a large number of operations within the healthcare segment, especially nursing homes.
