In 2019, for the second year in a row, real estate investors opted to designate their capital to deteriorating commercial space from that designated to housing. In Barcelona, the principal operation in this sense was the sale of the Telefónica Tower to the Philippine group, Emperador.

The real estate investment figures in Catalonia corresponding to 2019 confirm that the Catalan real estate market is one of the most active in Spain. During this year, Catalonia has consolidated itself as a first-level investment destination among the main European cities. The recuperation of economic activity in the Catalan capital and the rotation of products subject to investment have greatly favored the revitalization of the market.

The investment in offices and logistical centers has created the most interest from real estate investors, the vast majority of which are international. According to a report by the consulting company, Savills Aguirre Newman, such positive data are supported by two fundamental aspects. The first is the low interest rates in the Euro zone, which attract large investors from the Asian market. And the second, one of the basic principles of good development of sales activity, is low supply combined with high demand.
The investment made in the Catalan capital in 2019 was 2.816 million euros, 44% more than in 2018. This amount is based on the sale of a large number of big buildings and allows next year to be faced with optimism.

These good data contrast with the slowdown of investments in new housing that, according to a report from the Architects Association of Catalonia, will be impeded by the impact on the entry into force of the new municipal regulation which imposes the constraint of 30% of new residential housing in favor of affordable housing and also by the decree of the Generalitat that obligates large property owners to offer rented social housing to vulnerable people.