According to the Outlook 2020 report, the investment in the Spanish real estate market will reach 10,200 million euros this year, driven by international investors.
The report takes stock of last year, that is to say in 2019, and highlights that 50% of the investment was allocated to the office market, especially in cities such as Madrid and in Barcelona, where there is practically no availability and incomes grow strongly . According to the report, empty offices and rents rise strongly 6% in Madrid and 13.3% in Barcelona.
As regards investment in stores and, above all, in shopping centers, it has dropped by 50% since investors are more cautious due to the impact of digital commerce.
On the other hand, it is necessary to take into account the location of the commercial premises, since it depends on the tourism of the area, as it could be in the Balearic Islands where sales grow due to the record of tourist visits.
Investors' interest in offices is driven by the force of space contracting: in Madrid, 8.6% of the offices are unoccupied but in Barcelona only 4.1%, and in prime areas only one%.
It is expected that the hiring of offices will grow this year, up to 410,000 m² from the 401,000 m² of 2019, while it will fall in Madrid, from 610,000 m2 in 2019 to about 550,000 m2 this year. In addition, 25% of the hiring in Madrid is a new space, not transfers, while in Barcelona 35% of the total is a new occupation.