Property purchaser interest in Spain trebles

More than 70 per cent of European property investors are looking to purchase in Western Europe in 2014, with the UK leading the way and interest in Spain trebling, says CBRE’s 2014 European Real Estate Investor Intentions.
More than seven out of ten (70.9 per cent) investors questioned in CBRE’s annual survey of European real estate investors favour buying a property in Western Europe, with 14.3 per cent targeting Central and Eastern Europe, 8.2 per cent looking at North America, 4.5 per cent at Asia, 1.1 per cent at South America, 0.8 per cent in the Pacific and 0.3 per cent in Africa and the Middle East region.

Within Europe, interest in Spanish investment has more than tripled from 6 per cent last year to 19 per cent this year and Madrid now lies second to London as the most attractive city for investment, with Barcelona also among the top 10 cities.

“The sharp increase in investor interest in Spain follows a strong proportionate rise in turnover in the Spanish investment market over the course of the past year, with sales totalling 5billion euros in 2013 overall – more than double the level in 2012,” explained Peter Damesick, the Chairman of EMEA Research at CBRE. “Resurgent investment demand in Spain reflects the easing of concerns surrounding the eurozone sovereign debt crisis and positive investor perceptions of recovery potential in the Spanish market with recently improving economic indicators.”

Also noteworthy, although much less dramatic, are the increased proportions of investors identifying the Netherlands and Italy as most attractive. Both these markets saw increased investment activity over the past year as investors took a more confident view of their relative value and recovery prospects.

The UK (29 per cent) and Germany (21 per cent) were the two most popular locations for investors.

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