GTrends Reports
Market Trends written by Gloval
Trends in the Real-Estate Market No. 3
Summary of the Report
We analyse the key aspects of the quarter in terms of the MACRO-ECONOMIC ENVIRONMENT, RESIDENTIAL SEGMENT, LOGISTICS/INDUSTRIAL SEGMENT, OFFICES SEGMENT, RETAIL SEGMENT and HOTEL SEGMENT.
THE CYCLE ENTERS A NEW PHASE.
The data from the different economic analysis departments point to a slowdown in the Spanish economy, clearly influenced by all the noise from abroad and by internal factors such as the scarce activity in the industrial and primary sectors and the drop in domestic demand (private consumption). A Slowdown is NOT a Recession.
Regarding the real-estate sector, we observe two paths: on the one hand, the residential segment that shows signs of price exhaustion in some markets and where investors who bought property portfolios from banks 6 or 7 years ago may now come back with sell-offs in the light of the new phase in the economic cycle.
On the other hand we have the commercial real estate that retains institutional investors’ interest in key segments, with high rents and compressing yields, such as the real estate logistics, offices, high street properties, hotels and some alternative assets. Meanwhile, Retail Parks and Shopping Centres seek new formats.
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