Property investors focus on Spain for 2021: Over half plan to buy more this year
Monday, March 29, 2021 @ 8:39 AM
DESPITE the pandemic's having caused a slowdown in personal property purchases, investors are keen to keep buying and plan to expand their portfolios this year, in both residential and commercial buildings.
Although 2020 was a disappointing year for the property industry as a whole, the back end of the year showed strong signs of recovery – new builds, in particular, bounced back, with sales and purchases rising by over 4% in the final quarter of 2020, compared with figures from the same three months in 2019.
Recent research shows 55% of property investors across Europe intend to buy in Spain in 2021, which is expected to translate to a growth in this type of home or commercial premises purchase in the country of between 10% and 20% based upon 2020 figures.
Mikel Marco-Gardoqui, chief executive and head of capital markets at CBRE Spain – which commissioned the EMEA Investor Survey 2021 – said there is 'cause for a certain level of optimism' in the property industry, partly fuelled by the vaccine roll-out across the continent.
Investors' approaches in Spain this year are fairly diversified, says Marco-Gardoqui, and the EMEA Investor Survey has asked them about the nature of their buying plans for the first time – around a third are looking at value-added strategies, whilst 26% are expecting to opt for core-plus.
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