Retail investment volume in Spain rises 42% to €2.6 billion euros

Investment in shopping centers in Spain totalled €2.58 billion euros in the first quarter of 2015, increasing 42% from the same period last year, according to data by the property investment firm, JLL.

The company predicts total turnover in Spain’s retail investment market will amount to €3 billion by the end of the year, up from €3,3 billion euros in 2014.

Spanish investors accounted for 33% of the total volume, followed by funds from United States (24%) and Germany (10%). Further investment capital came from France, Brazil, Israel, Mexico and the United Kingdom.

Malls and retail parks were most in demand, attracting 25% of the retail investment volume, ahead of retail stores and supermarkets.

According to JLL, among the nearly 50 retail transactions closed in the first nine months of 2015 was the acquisition of the outlet center Megapark by Lar España, in a deal worth 170 million euros.