Our country is the fifth largest investment volume in the last year, second only to the United States, the United Kingdom, Germany and France. However, in relative terms to the size of GDP, Spain surpassed both the United States, Germany and France, and placed second in this classification. The 15,200 million euros raised in 2018 represent 1.26% of our country's GDP, above 0.46% in the United States, 0.79% in Germany and 0.67% in France. Only the United Kingdom exceeds Spain, with 30,500 million representing 1.28% of its GDP.
The Cushman & Wakefield report highlights Madrid and Barcelona as the main destinations for core profile operations in offices, retail and residential. The Core Plus funds, meanwhile, will track the Spanish market in search, especially of reform projects in shopping centers located in provincial capitals, especially those that combine shopping and leisure, as well as logistics warehouses in Madrid and Barcelona . Funds with higher capital costs, also called opportunistic funds, can still find opportunities in real estate development and promotion, and one of the segments that is attracting the most attention in the market is the logistics warehouses in Barcelona. From the study by Cushman & Wakefield, it can be deduced that global capital will search in 2019 for economies with success stories in real estate, and Spain has the characteristics to attract this capital.
Global real estate investment exceeds 1.5 trillion euros and marks new record
The study by Cushman & Wakefield also highlights that the global investment in the real estate sector stood at 1.75 trillion dollars in 2018 (1.53 trillion euros in exchange), 4% more than the 1.68 trillion dollars (1.47 trillion euros) registered in 2017. Of the total, Asia-Pacific was the region that attracted the most capital (758,000 million euros, 1% less), followed by America (480.800 million, 17% more) and EMEA (289,700 million, 10.8% less). By segments, real estate development accounted for 42% of the investment (642,000 million euros); followed by offices (21% and 315,000 million); residential (14% and 206,000 million); retail (10% and 153,000 million); industrial (9% and 143,000 million) and hotelier (4% and 69,000 million).
Regarding the forecasts for 2019, Cushman & Wakefield foresees that the global real estate investment will remain practically stable (an increase of 0.1%), with advances in EMEA (2.5%, up to 296,900 million euros), and Asia-Pacific (1%, up to 765,600 million) and falls in America (3% less, up to 466,600 million).