The new stage in UK-EU relations can culminate in the departure of companies and organizations. Fact that would provoke a real estate Brexit with important economic consequences.
This business opportunity can be a shock to many European capitals looking to reposition themselves. The possibility of attracting multinationals and creating synergies generates expectations in cities such as Madrid and Barcelona.
The first is due to the large number of offices available and the second to support the transfer of the European Medicines Agency.
Economic effects of Brexit
Numerous companies linked to various sectors, such as banking, technology, pharmaceuticals or automotive, operating from the UK, are considering moving and moving part of their business to other EU countries.
Something similar happens with the European agencies that operate together with the rest of the countries of the Union and to which a new British status can open the door of exit.
Those places that get their attention could reap great benefits in their economy. This is the case of Spain that has commissioned PwC to prepare a report.
The document is entitled “The Brexit opportunity: Economic impact in Spain of the attraction of companies affected by the Brexit”. And it amounts to 3.6 billion euros per year the economic activity generated by the attraction of companies after the Brexit.
Impact of Brexit Real Estate
This great business opportunity would generate employment, tax collection, and impact in various strategic sectors. The most outstanding, the real estate market.
According to data from the consultancy, Brexit would have an economic impact of 245 million in real estate services. 85 of them direct and another 160 induced.
Far ahead of financial services (136 million), research (118 million), hospitality (107 million) and auxiliary services of finance (100 million).
An investment motivated by diverse needs of spaces and services. From work centers (offices, industrial buildings, factories) to homes, both for rent and property.
A bet for Madrid
In this sense, the Community of Madrid has some advantage in the struggle to attract the attention of foreign companies.
The capital is the third city in Europe with more activity in business, after London and Paris. In addition to excellent communications with Europe and Latin America. Not to mention the large number of services, international educational centers and a favorable taxation for both individuals and companies.
In its bet by the real estate Brexit, Madrid is the second city of Europe with greater surface available in m2 of offices. A total of 1.9 million (year 2016). Aspect only exceeds the French capital.
Not forgetting that the average price per m2 is much lower than other cities that run to attract companies. Far below Paris and Dublin, but also Milan, Frankfurt and Amsterdam. A competitive offer in which only Valdebebas already adds one million m2 of offices and one million more in homes.
Barcelona wants EMA
Among the European bodies likely to leave the UK is the European Medicines Agency. An institution in which Barcelona puts all its hopes by offering the iconic building of the Agbar tower to welcome it.
This initiative, which has managed to gather the support of more than 200 entities, highlights the scientific value of an international body with enormous economic impact. A fact that places Barcelona in the ranking of competitiveness of KPMG.
The AEM has 900 direct and 4,5000 indirect workers. Fact that would facilitate the installation of 1,500 companies linked to research, trade and distribution of drugs. In addition to adding to the visitors of Barcelona the 40,000 people who annually go to the headquarters of the AEM.
The annual budget of the agency (340 million euros), could be added the hiring of offices and homes in one of the areas with the most projection of Barcelona: 22 @.
An economic challenge, product of the real estate Brexit, which could be an accolade for Barcelona next October.
