After record investment in Spanish real estate in 2017, 2018 is set to be another strong year for the sector, with a total investment of about €13 billion, similar to last year. This excellent performance stems from positive economic forecasts, favourable financing conditions and maturity of the real estate market.
This is the main finding of the latest Real Estate Trend Barometer, prepared by the consulting firm CBRE, based on feedback from over 160 senior executive managers at realty companies.
Lack of ‘prime’ office space
Owing to the positive economic and employment forecasts in 2018, the CBRE report foresees continued recovery of the Madrid office space market, with almost 600,000 square metres, while Barcelona would reach about 350,000 square metres.
The Trends report highlights the shortage of large, quality spaces in high-demand areas, increasing the pressure on office rental prices. It is expected that the monthly rental of prime office space will be between €33 and €34 per square meter at the end of this year, making Madrid the European market with the greater percentage growth.
MNN, an opportunity
Against this backdrop, Madrid Nuevo Norte is an excellent opportunity to build a business district that will provide the capital with office spaces with features demanded by leading companies.
Madrid Nuevo Norte’s Business District is an innovative, sustainable and ideally located and connected space, in which companies can enjoy all the amenities inherent to smart, sustainable buildings, equipped with state-of-the-art technological and architectural features.