he office segment retains its place as a prime mover of real estate transactions, representing 40% of the volume of non-residential (Office, Retail, Logistics, Hotels) transactions during 2016.
Investment in office space in Spain fell by 8% in 2016, to achieve 4,895 M. Euros, against 5,513M. In the previous period. It is appropriate to highlight the important role Socimis have played in the sector, accounting for 55% of the total volume transacted in 2016. More conservative and family businesses have also participated significantly. When combined with Socimis, the two categories of company amount to 87% of the transactional volume.
In 2017, there is a pipeline of 1,406M. Euros, amounting to 30% of the volume realised in 2016.
At a time when Spain is experiencing economic recovery, and with the process of ´Brexit´ in train, the cities of Madrid and Barcelona are positioned to the most competitive in the country in terms of attracting investment. Both cities rate among the best in Europe in terms of profitabilty.
With regard to the volume of new offerings, 12 new projects are expected to add close to 180.000m2 to the Madrid market during the course of 2017, rising potentially to 300.000m2 during 2018. Meanwhile Barcelona will add close to 37,000m2 this year, with a further 93,000m2 in 2018.
The Spanish capital currently has more than 1,400,000m2 availabe, and Barcelona almost 400.000m2.
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