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Bouyant demand again for property in Spain
Despite the general nervousness in Europe resulting from the continuing Greek debt crisis and its implications for other peripheral euro zone economies, particularly in southern Europe, transaction activity has picked up substantially in Spain. Both the principal office markets in Madrid and Barcelona and the retail sector across the wider country have seen recent deals that confirm the burgeoning interest of international real estate investors in the Spanish market.
In a Spotlight on Retail report on the Spanish retail market, Knight Frank recently suggested that €3 billion of retail assets in the country will change hands over the next 18 months. Smaller, non-prime shopping centres in secondary cities will be the most sought-after properties. Rising footfall and sales volumes are positive for the retail market, the report says. “While 2014 and what we have seen so far of 2015 h