Multifamily. Investment opportunities in a growing sector
The past year has been positive for the Living market.
Rental housing demand is also being consolidated and is only likely to grow stronger, given the projected changes to demographics and household formation, and the social trends underway in Spain over recent decades. Most younger people (under 30 years old) live in rented accommodation, but renting is also becoming increasingly common among those aged 30-40, a much larger demographic group.
In terms of access to housing, over the past year public-private partnerships have enabled significant progress to be made on strengthening the affordable rental housing stock. Two major projects ― Plan Vive in the Community of Madrid and Habitatge Metrópolis in Barcelona ― successfully attracted private investor interest in developing and managing nearly 10,000 new rental homes.
Around €2.2 billion was invested in Multifamily in 2021, 10% more than 2020, with JLL advising on a number of deals. These figures show the appeal of the sector, an increasingly important part of the real estate market whose upward trend is expected to continue in 2022.
Sustainability and social considerations related to access to housing and citizens’ well-being have become key issues that will bring new challenges and changes to the real estate sector in the coming decades. ESG investment is thus becoming a priority for investors, influenced by tenants’ needs as well as government policies.
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