The prices of commercial real estate, in other words, premises, offices and industrial warehouses, fell by around 15% between the beginning of 2014 and the end of the first half of 2021, according to the Bank of Spain, which has prepared a price index for the commercial real estate market in Spain.
“Between the second quarter of 2015 and the fourth quarter of 2016, the prices of this type of establishment decreased. Then, from early 2017 until the start of the pandemic, prices remained relatively stable”, say sources at the Spanish central bank. “Finally, the pandemic period, which began in the first quarter of 2020, has been characterized by an additional price adjustment, although signs of stabilization have been observed recently,” they add.
Read the full article in Spanish.
