Spanish commercial property returns recover

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Commercial property made double digit returns in Spain last year, the first year in which this occurred since 2007, according to data published by IPD.

The IPD Spain Annual Property Index suggests a 10.1% total return in 2014 from Spanish commercial property, a rise from 0.3% in 2013. In 2007 the figure was 12.4%.

The latest annual return puts commercial property ahead of domestic equities, which returned 8.9% over the same period according to the Spain MSCI index.

Capital growth of 4.2% represented a significant turnaround from the negative return of -4.9% seen in the asset class in 2013. Income return was 5.6%.

The IPD Spain Annual Property Index measures ungeared total returns to directly held standing property investments from one open market valuation to the next. The index tracks performance of 400 property investments, with a total capital value of €11.5bn as at December 2014.

Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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