It is clear that Spain is once again one of the most attractive destinations for real estate investment in 2022. This is because the country has two cities in the "top 10" of the annual report by the consultancy firm PwC and Land Urban Institute: Barcelona and Madrid. Of the 31 major European cities that appear on the list, Madrid is in sixth position, after gaining two places compared to the last edition, while Barcelona re-enters the list of the top 10 most attractive destinations after improving four places to ninth place. This is the first time in two years that Spanish economic and real estate giants have managed to break into the top 10 of attractive investment destinations.
According to Antonio Sánchez Recio, partner in charge of the Construction, Real Estate and Services sector at PwC, the results show that "investors are confident in the Spanish real estate market and are optimistic after seeing that the sector has successfully overcome the worst part of the pandemic.
Furthermore, we see that there is no turnaround on the path of integral transformation initiated in the real estate industry, which comes hand in hand with technology, organizational changes, focus on asset and customer management as well as incorporating ESG aspects in the strategy and business model of real estate companies.
Regarding Madrid and Barcelona, the consultancy firm highlights several competitive advantages over other European cities, such as lower asset prices, a high level of quality of life and a lower cost of living.
In addition, the capital city stands out for its potential for the development of sectors such as residential and logistics, as well as for its good infrastructure network and the strength of its office market, while the Catalan city has the potential for businesses related to technology and biomedical research.