Madrid received 425 million euro more between July and September than it had in the previous quarter (+153%), for a total of 703 million euro. This difference shows the city’s capital market recovery after the pandemic’s first wave lockdown.
And this is not the only positive indicator, since the 39 million euro ticket per deal is in line with what was registered during the same period last year, and it was actually twice as high as the 18.6 million euro ticket per deal of the previous quarter. This means that the larger deals came back to the Spanish capital during the Summer when there were 20 deals, 2 of them for undisclosed amounts.
The data gathered in the latest Madrid report compiled by Iberian Property shows exactly that. It is estimated that the 3 largest operations concluded during the Summer were above 100 million euro: the purchase of logistic park Palm M-40 by Invesco Real Estate; office building Velazquéz 34 acquired by Zurich; and Edifício Axis, located number 1 Plaza Colon 1, purchased by GPF Capital.
The company’s investments in the Spanish capital represented 28% of all investment in Iberia during the same period, in line with last year’s aggregate investment.
Offices remain at the top of preferences
Offices remain at the top of investors’ preferences in Madrid’s real estate market. The report showed that the Madrid office market represented 54% of all real estate investment during the last 4 quarters, which accumulated around 5.426 million euro. The third quarter was no exception: the office segment represented more than half of the all real estate investment.
The second segment to receive more investment in Madrid last year was the alternative segment, followed by the hotel segment with 10.1%, logistic with 9.6% and retail with only 9.4% of all investment.
All the information is available at the Madrid Report from Iberian Property which can be downloaded HERE.
For more information about Iberian Property Data service, click HERE.
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.