Office demand skyrockets for tech companies in Barcelona
As they say in the real estate consultant Cat Real Estate, recently created companies or startups look for equity to grow faster, on the other hand investors look at interesting projects that will allow them to get return.
July 2017 Barcelona. As of right now #Barcelona is one of the few cities that has a consolidated startup ecosystem. A recent study shows that Barcelona is the most consolidated city in Spain in this market and it has between 900 and 1,100 startups.
¿What are investors looking for?
This new companies need equity to grow fast and expand their business both nationally and internationally. On the other hand foreigners used to invest in real estate assets but there are now shifting towards real estate projects with a technological base with which they can obtain higher returns.
Cat Real Estate manages an English fund in Spain and the last operation they closed in London was an order of 40 million € to set their own groups startup in a building in Barcelona and other newly created startups.
Because of that Cat Real Estate, lead by Nacho Castella has bet on the creation of two real estate startups with which they pretend to revolution both selling and administration of apartments. These new startups Melibero and Rentando sell and manage properties with low-cost managing flat rates. They both have big technological aspects and are set within the PropTech sector.
Taking his knowledge on the real estate market into account Nacho Castella explains that “high interest of foreign funds in real estate PropTech startups have caused the rise of both office and flat demand in the Spanish city, this is due partly to the geographical situation, the weather and low costs. BCN tech city is an example of this.”
To be specific a startup company, which started renting 300 sq. m in 2014 with Cat Real Estates advice, is now looking for new offices with a minimum of 2,500 sq. m.
Forecasts for 2018
Cat Real Estate still leads the real estate investment market in Barcelona and Madrid. In this year first semester, the consultancy firm has intermediated in 60 operations with real estate assets, which are higher than 400 million euros.
With this rise in operations and an active demand, the real estate group, which has extended its main office in Barcelona and has doubled its workforce, plans to obtain more than 120 operations in 2018 and that its real estate asset administration will be of 420 million euros.
In Cat Real Estate we are analyzing real estate startups to build them up in our offices in Rambla Catalunya 38 1º-1ª Barcelona. If you are interested in us analyzing your project and being part of our PropTech ecosystem, contact us here and present your Startup. We will contact you!
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The Cat Real Estate group has established itself as a benchmark in the management of real estate assets in Barcelona with more than €750 million in asset management.