The capital allocated to the Spanish capital had a sudden break between April and June. The break was such that the 422 million euro aggregated investment represents half the amount received during the same period last year.
This was not the only indicator to drop, the ticket per deal registered in Madrid during the second quarter is also the worst of the year –28 million euro per deal. This number is 32% lower y-o-y and 48% below the numbers registered between January and March. This means that the majority of deals closed during that period – for a total of 15 with a known price – were traded at low amounts.
The TOP Deals in Madrid section of Iberian Property’s latest report shows that out of all transactions, only one was traded for more than 50 million euro: the purchase of a 919 affordable houses for rent portfolio by AXA Investments Managers from Tectum and Locare for 150 million euro. The second largest transaction was GSA’s purchase of a student residence from Corestate for 50 million euro.
Unlike what had happened during the last 4 quarters, between April and June investors in Madrid focused on the housing segment, which represented almost half of all investment – around 203 million euro. The office segment, which had represented 45% of all investment during the last 12 months, only had 73.7 million euro invested this quarter, representing 17.5% of all investment during this period. Retail also dropped its share to 5.1%, compared to an 8.5% annual share. The logistic segment had no registered operations.
All the information is available at the Madrid Report launched by Iberian Property, which can be downloaded HERE.
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Disclaimer: This information is based on public data gathered within the platform Iberian Property Data. All estimates were calculated based on registered public information and data from the main consultants within the market. It should be noted that the results presented here may be updated if new information is issued.