- Indicate 3 reasons to invest in Spain
Spain is the 13th global economy and the 5th in Europe. Furthermore, it is a gateway to Europe and part of the Eurozone, which places this country in a privileged position. In addition, it is one of the most attractive countries for tourism, which will certainly return after COVID-19. The sector attained a new record in 2019, with 83.7 million international travellers who spent 92.33 billion euros, according to the Ministry of Industry, Trade & Tourism. The country has a skilled workforce, and the technical quality and qualifications of our professionals have positioned Spain as one of the most competitive countries to do business.
- Where are the best real estate investment opportunities in Spain currently found?
Spain will continue to be a country with great investment potential in various sectors, although we highlight the retail and logistics sectors. If we focus on retail, a segment where Castellana Properties specialises and is a key player, the sector has shown great resilience and a capacity to adapt to customer demand, as the figures demonstrate. Sales and footfall in Castellana Properties’ 16 shopping centres and retail parks, for example, have increased considerably in the last months. In October, our shopping centres reached 84% of the visits compared with the same month the previous year, and sales recovered in September (the latest month reported) and even evolved more quickly, attaining 93% of the result for the same period last year. We believe there will soon be very good investment opportunities in retail, specifically shopping centres, and investors will identify these as soon as the COVID-19 effect has faded.
There will also be opportunities in the logistics sector, due to the persistent lack of available supply. Considering the prices in recent months, driven by low yields, it is likely that opportunities will lie in the development of new platforms since demand remains high for new and modern logistics facilities.
Read More opinions of major real estate investors operating in Spain in last Iberian Property Edition