Real estate investment begins to recover in Barcelona. After the drop in interest rates and following a 2023 of decline, investment has exceeded 1,500 million euros from January to September this year, which represents a 12% increase compared to the same period in 2023. Despite this growth, the figure is 12% below the average of the last ten years.
The hotel sector has remained the main focus of investment in the Catalan capital, with an accumulated 426 million euros so far this year. Investment in hotels continues to lead the data despite having decreased by 21% compared to the same period last year, when major operations took place, such as the sale of the Mandarin Hotel, the Dolce Sitges Hotel and the Hotel Sofia in Barcelona. In addition, Barcelona has consolidated itself as the preferred destination for hotel investment during 2024. So much so that investment in Barcelona represents 25% of the total national investment, in a context in which the hotel sector "has reached a record number of visitors in Barcelona", as highlighted by the head of CBRE Barcelona, Xavier Güell.
Behind the hotel sector, the living sector is the one that has mobilized the most investment in the Catalan real estate market, with 377 million euros between January and September. This figure represents a 29% increase compared to the same period in 2023, and is largely due to investment in student residences. This sector has registered a volume of 276 million euros, more than double the total for 2023, when it reached 130 million in investment. However, the Build to Rent and Flex Living sectors have decreased compared to last year, in a sector that, according to Güell, "continues to be dominated by the lack of supply to satisfy a growing demand".
The retail sector has reached 90 million in investment and has exceeded the 76 million registered in all of 2023Offices also regain weight compared to a 2023 marked by market sluggishness and a decrease in transactions and contracted area. So far in 2024, has positioned itself as the third sector that concentrates the most investment, with an accumulated 357 million euros,44% more than last year. In this area, "the recovery in hiring has begun to translate, albeit still timidly, into investment," Güell assured. All of this in a year in which new renovated office buildings have begun to operate, such as the old Corte Inglés on Francesc Macià, converted into theAura Building,and others are being reformed, such asthe Estel; the old Sabadell Tower, asDiagonal Vertical,and the until nowCorte Inglés de Portal de l'Àngel
Despite doing so with more modest figures, the retail sector also grows, having registered in the first nine months of the year a volume of 90 million euros, which already exceeds the investment of all of 2023, when it stood at 76 million euros in total. On the other hand, the industrial and logistics sector has so far reached 80 million in investment, below the 199 million of last year. Despite this reduction, the sector predicts significant growth in what remains of the year, and expects to exceed 300 million euros.
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