'Retail' investment has become one of the most profitable options in the Spanish real estate market. This type of investment in large cities, including office complexes, are the object of both domestic and foreign investors' desire. Barcelona is, in fact, one of the cities in southern Europe where this very specific market is growing. It is a trend in which different factors have come together and this hasn't gone unnoticed after the great recession.
In the first quarter of 2017, the consultancy firm, Savills, found that Barcelona has surpassed Madrid for the first time as the main destination for investments in offices in Spain. To be exact, this segment of the market has moved up slightly by more than 450 million euros between January and March, which is 10% more than the already remarkable data collected by the Spanish capital. What attracts so many investors to the city? It is evident that the last major crisis caused a significant change in prices, which remain attractive despite the sustained growth in recent years.
The next factor to be taken into consideration is the remarkable recovery of the Spanish economy on the whole since the end of 2013. The latest review of the outlook for 2017 redraws a GDP growth rate of around 3%. Barcelona has already seen how this frank economic improvement has boosted the creation of companies and has encouraged to resume investments that were postponed during the crisis by the existing companies. Thus, the demand for offices has reached at the highest peak since the last decade.
Where in Barcelona is best to invest in offices? One of the neighbourhoods that has a greater number of business activities is Les Corts. Located in the heart of the urban district with which it shares its name, the district is located between Avenida Diagonal and Camp Nou de FC Barcelona Stadium, south of the predominantly residential district of Sarrià-Sant Gervasi. In this area, We can find modern offices that are offered for rent and have been completely renovated in 2005.
The centre of the city is also one of the most sought after areas, as is the case with Eixample. Engel & Völkers manages a unique finca that is synonymous with distinction and class for any company that wishes to totally or partially move its offices to Rambla de Cataluña. There is also a bright and airy office building located here with a remarkably modern design.