Cushman & Wakefield and Uría Menéndez launched the first Iberian Real Estate Investment Guide.The guide was presented to some 200 investors at Uría’s Madrid headquarters and at C&W’s EMEA headquarters in London.
The guide provides insights into the two countries’ property markets, as well as their respective legal and tax structures, and is therefore a useful tool to support investor strategies.
Some of the main findings of the publication are:
- The Spanish and Portuguese economies are showing above average growth rates thanks to a combination of increased private spending, tourism and exports, aided by falling unemployment – all fuelling confidence and hence occupational markets.
- In a continued low interest rate environment, investor interest is high and the source of money and respective risk profiles increasingly more varied – with capital coming from Europe, the US and Asia, and covering the full risk spectrum.
- While the two countries are at different stages of the cycle, both offer good opportunities for rental and capital growth – indeed, according to the 2016 MSCI Index, Spain (at 13% total investment return) and Portugal (12%) were in the top-4 performing countries in Europe.
- Both countries’ public authorities are increasingly recognizing the positive impact of real estate investment in the economy overall, and have taken or are likely to take policy measures. These measures are expected to have a major positive effect on the liquidity of the markets.