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Eversheds comment: Spanish property market offers Merlin cyclical magic

  • United Kingdom

    13-06-2014

    Commenting on what could potentially be Europe's largest property IPO, Bruce Dear, head of London real estate at law firm Eversheds, says:

    “The Spanish market is where the UK was 18 months ago, albeit they have better footballers. Investors suspect the country's economic pain has peaked and is ready to generate gains. Prime Spanish assets are rare as an Iniesta miscue, and yielding 5.5 to 6%. With Madrid prices down 60% since 2008, many properties also offer strong upside potential. Merlin wants to capitalise on this cyclical magic.”

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