IQ Magazine interviewed Cristina García-Peri, Head of Business Development & Strategy at real estate investment manager Azora, who have recently joined INREV, about the buoyant Spanish market.
As recently as 2014, only the most ambitious international investors considered investing in Spanish real estate. ‘Now things are very different,’ says Cristina García-Peri, ‘and most global investors are looking at the country. Recent investors in Spain include pension fund giants APG and CPPIB, sovereign wealth fund GIC and the likes of CBRE Global Investors, Blackstone, AXA and Allianz. This trend looks set to continue.’
Rented residential is one area where attractive product is in short supply, causing house prices and rentals to grow at double digit rates