Worldview: Spain


In 2020, Spain experienced a historic drop in GDP, but it has since rebounded and is now looking at 4.4 percent growth this year, according to CBRE’s Real Estate Market Outlook. Real estate investment in the country is expected to reach upward of $14.6 billion. The report also notes that “an earlier recovery of the tourism industry and swift distribution of the European Recovery Fund Programme could lead to a stronger recovery.”

Looking at property sectors in Spain, logistics assets remain the darling of investors, followed closely by multifamily. As seen in the U.S. and in many other markets, the rise of e-commerce in 2020 created high demand for warehouse and other supply chain assets. Additionally, adaptive reuse of former factories and other blighted properties provides much-needed opportunities as buildable land is at a premium. 

Conversely, hospitality and retail continue to struggle, with bank financing difficult to secure. As a result, refinancing and restructuring activity will be on the rise.

In office, rising vacancies will force rents to decline. CBRE’s report points out that “the office market is growing increasingly polarized on both occupier and investor sides. The gap between the highest-quality properties and the rest will widen further.”

Infographic data courtesy of Real Capital Analytics

Education Course Ad 300x250 PNG 2

Advertise with Us

Reach more than 45,000 top-performing commercial real estate professionals with CIRE magazine’s print, podcast, and online offerings.

Download the Media Kit

Ad: CIRE Podcast
Summer 2021 Cover


Worldview: France

Spring 2021

France was touted as the top European market for foreign investors, but once the pandemic hit, it experienced the same pains as countries all over the world. 

Read More

Worldview: Canada

Winter 2021

The new year is looking up for the Canadian commercial real estate market, with a 14.6 percent quarter-over-quarter increase in 3Q2020.

Read More

Worldview: United Kingdom

Fall 2020

Like so many global markets, the United Kingdom’s commercial real estate market is feeling the effects of the COVID-19 pandemic, with $17.9 billion in CRE investment for the first half of 2020,

Read More

Worldview: South Korea

Summer 2020

South Korea distinguished itself among Asia-Pacific countries as the only market to see deal volume increase compared to year-over-year numbers.

Read More