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Zetios Properties LLC: Spanish Housing Market Soars

·2 mins

Wrapping up 2023, it turned out that office spaces were the golden ticket in Spain’s real estate market, hitting an average gross yield of 11.3%. In comparison, making money from residential rentals felt a bit more modest at just 7.1% per annum. The folks over at Zetios Properties LLC are betting this office sector wave isn’t crashing anytime soon, expecting more growth through 2024.

But it wasn’t just offices getting a piece of the action; other commercial spaces were on the up too. For instance, the rate for commercial premises bumped up to 9.5%, and garages weren’t too shabby either, averaging a 6% yield across Spain. It’s a mixed bag though, with yields varying from place to place, so smart investors should keep their eyes on the local prize.

Diving into the specifics:

Offices:
If you’re looking at office investments, Seville’s where it’s at, boasting a 12.6% average annual return. Not far behind are Huelva, Almeria, Toledo, and Vitoria. Big cities like Barcelona and Madrid, though? They’re a bit more chill on the office yield front, with Barcelona at 6.9% and Madrid slightly lower at 6.5%. Up north in Bilbao, A Coruña, and Ourense, the returns hang around the 6% mark too.

Commercial Premises:
Retail space in Ávila is the top earner with a 10.8% yearly return. Zaragoza and Murcia are hot on its heels, followed by Bilbao, Lleida, Santa Cruz de Tenerife, and Huelva. Barcelona and Madrid, on the other hand, dip below the national average, while Jaen, Salamanca, and Pontevedra are at the lower end of the scale, and A Coruña and Albacete are even a tad lower.

Garages:
The best returns for garage spaces were found in Castellón de la Plana, Murcia, and a few other cities, all hovering around or above 6%. Madrid sits comfortably in the middle, while Ourense, Santander, Palencia, and Granada are on the lower end, and Salamanca scoops the title for the least profitable.

Housing:
On the housing front, Murcia leads the pack with an 8.8% yield, followed closely by Lleida, Huelva, Cuenca, Santa Cruz de Tenerife, and Almeria. Barcelona’s looking more modest at 5.2%, and the lowest yields? Those are found in San Sebastian.

All in all, smaller cities are the unsung heroes of the residential real estate game, a trend that’s held steady thanks to Spain’s perennial allure as a resort destination.

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