Sentiment soars in Portugal and Spain: RICS

Commercial property investor sentiment is soaring in Spain and Portugal, according to the Royal Institution of Chartered Surveyors (RICS).

Spain saw tenant demand increase more than 60% from Q1 to Q2 this year, while Portugal saw a rise of more than 40%, according to figures from the RICS Q2 Global Commercial Property Monitor.

The report measures sentiment among commercial property occupiers and investors across the globe, and found the two Iberian states had by far the biggest growth in tenant demand in Europe, with Hungary and Ireland close behind. Globally, only Japan showed a greater increase in demand than Spain.

Figures for ‘investment transactions expectations’ told a similar tale. Expectations for Q3 were up 80% for Portugal over Q2 and almost as much for Spain, putting them far ahead of any other country.

Tenant demand and investor expectations have fallen sharply in Russia, possibly driven by geopolitical factors.

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