Spanish commercial property market deteriorates
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The performance of the Spanish commercial real estate market has declined significantly this year.
An article for the Financial Times highlighted data collected by Real Capital Analytics (RCA), which revealed the number of transactions completed in Spain fell by 90 per cent in the second quarter of 2012.
In addition, the total value of the deals dropped from €260 million (£203.9 million) in the three months from January to March to €67 million in the second quarter.
Director of market analysis at RCA Joseph Kelly told the news provider why investors are avoiding Spain's commercial property sector.
"Heightened risk aversion, particularly among cross-border institutional investors, has led to an almost complete collapse in southern European acquisitions," he stated.
In addition, the total value of the deals dropped from €260 million (£203.9 million) in the three months from January to March to €67 million in the second quarter.
Director of market analysis at RCA Joseph Kelly told the news provider why investors are avoiding Spain's commercial property sector.
"Heightened risk aversion, particularly among cross-border institutional investors, has led to an almost complete collapse in southern European acquisitions," he stated.
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