Once the crisis is over, the different subsectors of the real estate market have added to the recovery. Although, if one excels that is the rental of offices.
The real estate sector of the two large Spanish capitals begins to mature. If the residential market recovers and the logistics are experiencing a great moment, the rent of offices has nothing to envy.
Increases of 23% in three years and prices that exceed 28 euros per square meter, are the letters of introduction of Barcelona and Madrid.
The “7th Seminar Capital Markets Trends” organized by ESADE and CBRE consultancy has left very positive data. A balance of a good 2016 with excellent future prospects.
The opportunity for real estate investment is on the table.
Best Office Rental Income
The price of offices has skyrocketed in recent years, especially if we look at the time of crisis.
From the low levels of 2013 until the end of 2016, Barcelona has increased incomes by 23% to € 21.75 / m2. The sixth largest increase in Europe, according to CBRE.
Something lower has been the ascent of Madrid. Although the capital, with 28.25 € / m2, moves at prices higher than those of the city.
The positive evolution in the rental of offices for both cities will continue in the coming years. The two capitals are among the most outstanding in the world in the period 2017-2021.
A fact that, on paper, will place Madrid as the fourth city with the highest increase in office revenue and Barcelona as the eleventh.
Stability in real estate investment
Parallel to the evolution of the office market, the rest of the real estate investment is experiencing a moment of gradual stabilization.
The more 14 billion investment that closed 2016 will hardly match in 2017, given the maturity of the market. This fact will not prevent the favorable pace expected for this year and next year.
The year we have closed has had remarkable figures in markets such as logistics. Sector in which Barcelona continues being the main center of activity at national level.
Barcelona, with a hiring of 773,000 m2 (+ 45% year-on-year), will also see the number of businesses decrease due to a shortage of supply. The new pending subject will be in finding new spaces to satisfy the demand.
Residential market and new customers
In the residential panorama, the new demand for housing must be answered in the form of new developments.
Barcelona, for example, is planning to incorporate 764 new buildings of new construction in this year. Few compared to the forecast demand that will be around 7,900 annually until 2025, only in the province of Barcelona.
Nor should we forget the demand from investors, with a large presence of German customers. Many of them look for buildings with the aim of dedicating them to renting housing.
Aware of the sector and the imminent incorporation of new residents to the residential market, its bet is in line with the professionalization of the real estate market.
