Madrid leads growth in global real estate investment
The commercial real estate market is growing in Madrid more than in any other city in the world. According to a report by the consulting firm Cushman & Wakefield and published by Expansión, the Spanish capital saw the world's strongest growth in property investments from June 2014 to May 2015.
In this period, Madrid reached €6.3 billion (about $7.1 billion), an increase of 164% from June 2014. Overall, €13 billion (about $14.7 billion) were invested in the Spanish real estate market thanks to operations such as the purchase of Gran Vía by Zara’s Amancio Ortega and the acquisition of the major shopping mall Plenilunio by Klépierre. The two deals amounted to nearly €400 and €375 million respectively ($445 and $425 million).
Despite the jump, Madrid is still behind New York, London and Tokyo in terms of real estate investment. New York totalled €75 billion in investments in the same period, while London recorded €55 billion and Tokyo €38 billion.
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