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Spain MarketBeat Reports

Ramiro Rodriguez • 30/09/2019
Cushman & Wakefield MarketBeat reports analyse quarterly Spain commercial property activity across office, retail and industrial real estate sectors including supply, demand and pricing trends at the market and submarket levels.

Office

Occupier markets showed strong fundamentals in the first three quarters of 2019 and gross absorption metrics are signalling that year end figures will set historical highs. The fundamental factor is job creation in the service sector and for Barcelona there’s an added component coming from international talent attraction. The capital markets remain buoyant for office assets and volumes for 2019 may set a ten-year high.

Retail

Retail space demand is still strong in the main thoroughfares of Madrid and Barcelona. Rental values remain in high historical levels in the best locations given the strong interest from pure retailers and other entrant players willing to combine brand experience with omnichannel strategies. Specialised investors in high street assets are willing to acquire good product but are mindful of the high capital values the market is currently displaying. Yet, investor intentions are strong given the correct approach in pricing.

Shopping centres and retail parks are performing well in terms of occupation and space demand. The backdrop is retail sales expected to expand by 2% in 2019 and a stable but buoyant footfall. New schemes in 2019 and 2020 add up to 10 centres with more c. 410,000 sq m of added retail supply.

Industrial

Warehousing and storage space keep on being critical for new the configuration of the supply chain in Spain. Operators and developers are betting boldly on new logistics premises adapted to the new era of ecommerce, multi-channeling retail and super-fast last mile distribution. In this context, the market has developed well between January and September 2019 in terms of space take-up, and new deliveries. Investor intentions are also strong, and 2019 will sustain historically high investment volumes.

CURRENT MARKETBEATS

Gold blue office facade, Barcelona
Spain Office Market Data

Office Marketbeat is a summary of the Spain office property sector in key cities, providing comment on recent trends as well as market data and analysis.

Spain Office Market Q3 2019

aerial view of logistics depot
Spain Industrial Market Data

Industrial Marketbeat is a summary of the Spain industrial and logistics property sector providing comment on recent trends as well as market data and analysis.

Spain Industrial Market Q3 2019

Woman in coat walking on street and looking at shopping window
Spain Retail High Streets Market Data

Retail Marketbeat is a summary of the Spain retail high streets property sector in key cities, providing comment on recent trends as well as market data and analysis.

Spain High Streets Market Q3 2019

People walking in shopping centre blurred
Spain Retail Shopping Centre Market Data

Retail Marketbeat is a summary of the Spain retail shopping centre sector in key cities, providing comment on recent trends as well as market data and analysis.

Spain Shopping Centre Market Q3 2019

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