Wednesday, 12 March 2014 10:19

 

Offices, hotels, retail and real estate in Barcelona to see boost this year

The confidence of foreign investors in Spain has grown exponentially this past year according to the investment report in the property market in Spain 2013 by Investment Real Estate Associates (IREA.)

Especially the real estate market in Barcelona and Madrid are due to see growth this year. The report states that specifically offices, hotels and retail in the real estate sector of Barcelona will see development but also investment products such as coastal residences, student accommodations and retirement homes.

interest of international investors in Spain

According to the IREA report the investment in the real estate market in Spain has grown 12-fold, over the 433 million Euros achieved in 2012. This increase in activity is mostly seen in the latter part of the year 2013. According to the IREA this intensification is produced by the improvement in the national economic indicators (risk premium, GDP growth etc.) and will continue to mobilize the interest of domestic and, fundamentally, international investors in Spain.

This is great news for the Barcelona real estate sector as, according to the CEO of the IREA, some opportunistic funds already began organizing local teams in Spain at the end of 2013, which will bring greater dynamism in the coming months and will encourage the closing of more transactions.