Despite the fact that the Ibex 35 closed November with its largest-ever monthly rise (up by 25.18%), many stocks are still forming the targets of takeover bids due to the decline in their prices. And, real estate companies are fair game, as they have also been impacted by the deprecation of assets.
In terms of the behaviour of real estate companies on the stock market, there has been a before and after with respect to Covid. At the beginning of the year, real estate companies had more attractive valuations than those in other sectors: they were receiving money from investors, capital increases and bank financing, and they were one of the sectors that were clearly benefitting from the (low or negative) interest rate environment in Europe.
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