Trends in the real estate market in the first quarter of 2019

Num. 1 - March 2019

Highlights of the quarter: January - March 2021

Gloval launches its real estate market Trends Report for the first quarter of 2020, with relevant information on the macroeconomic environment and the different segments of the real estate sector, such as residential, logistics/industrial, office, retail and hotel. Download the full report here:

Macroeconomic environment

Spanish GDP posted a year-on-year rate of 2.4% in 4Q18, closing the year with an annual increase of 2.5%.

Chart 1: Real GDP and Housing Prices (year-over-year change)

Residential segment

In 3Q18, housing prices decelerated from the previous quarter, although they remained robust.

Chart 2: Housing affordability (Mortgage payment / GDF; %)

Logistics/Industrial segment

The lack of available land for new logistics developments in PRIME zones in Madrid and Barcelona is accentuated, and new locations are needed in areas further away from the main corridors.

Office segment

Capitalization rates in PRIME zones in Madrid and Barcelona are at minimums.

Retail segment

With the momentum and prospects of E-Commerce, there is increasing interest in street level stores to reorient them to this activity.

Hotel segment

The hotel sector, closely linked to the tourism sector, maintains a positive outlook.

Gloval’s Outlook

At the start of 2019, the trend in the sector will continue, although perhaps with less momentum than in 2018. The scenario of low interest rates will be maintained, as well as a stable path in job creation.

GLOVAL’s valuation activity in hotel segment

The area specialized in valuations of the hotel segment of the Gloval group has more than 1,600 actions in the last 3 years, positioning itself in the “TOP” of the large consulting firms in the country.

Chart 3. Main destinations of appraisals

Chart 4. Valued volume (2016 – 2018) (Percentages)

You can download the GTrends Report Num. 1 here:

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