Recently, the Spanish commercial real estate market's performance has been impacted by the COVID-19 epidemic. As a result of the crisis, non-residential investment has dropped. There have been adverse effects on Spanish real estate investment trusts that specialize in this sector. It gets reflected in both the number of vehicles established and the value of their real estate. The commercial real estate sector, on the other hand, has not seen a significant decline in credit quality.
The Recent Statistics of Commercial Real Estate 2021
BNP Paribas reports that real estate investment increased by 9 percent to €4,68 billion from January to June. That's a 50 percent increase over the previous quarter and 203% over 2020's second quarter. Just Bankinter's acquisition of a logistics asset portfolio made about 32 percent of the quarter's total volume.
According to the Spanish Value Analysis Association, residential mortgage assessments climbed by 12 percent from January to March. It is estimated that 108,000 such evaluations were conducted in the first quarter, with an average value of 208,000 euros, an increase of 3 percent.
Residential Real Estate
According to Collier's research released in June of this year, the residential sector is expected to account for 30 percent of real estate investment in Europe over the next five years. Spanish asset values are expected to rise as a result of the epidemic.
Real estate news has been dominated by Madrid's City Council, which announced over 700 houses. The Department of Housing will contribute 28.4 million euros to EMVS to continue funding new projects.