The Commercial Property section of Spain’s property market has an increasing share of the European market.
In absolute terms the market has shrunk, it is shrinking much less in Spain.
Investment activity came to 1.85 billion euros in the first half of 2009. It seems that investors and funds have noticed that their are some good investment opportunities in Spain. It should be noted that Spain had some of Europe’s biggest property deals in the first half of 2009, two of the nine transactions were for more than €200 million. Amongst the bigger deals was the acquisition by Orion Capital of the Plenilunio shopping centre in Madrid costing €235 million.
Since the market high point in mid-2007, the best yields in Spain have increased by between 200 and 225 basis points. In comparison there was a European average rise of 136 bps for the same period.