The large real estate managers and their investment funds will account for 80 % of the market, with a combined value of more than 175 billion euros in 2022, according to a study by the consultancy firm Axis Corporate.
The average price of the properties sold by these managers stood at 97,526 euros, the report adds.
The four entities that dominated the market were Intrum Solvia, Hipoges Iberia, doValue and Anticipa-Aliseda, which account for 60% of non-performing assets or NPAs in the country.
Intrum Solvia had a market share of 24.39% at the end of 2022, with just over 51.3 billion in assets under management, despite the loss of SAREB’s portfolio at the beginning of the year as part of the SMO project.
Hipoges Iberia increased its market share from 11.05% in 2021 to 22.62% in 2022, with more than 47.5 billion in assets thanks to the disposal of part of SAREB’s portfolio and its positions in Portugal.
Anticipa Aliseda saw an increase in its assets under management of more than 30 % thanks to the award of the other part of the SAREB portfolio and doValue closed 2022 with assets valued at just under 33 billion and a market share of 15.6 %.
Real estate companies need more efficiency in their resources
Despite the good results of the main managers, the sector needs greater efficiency in its resources, the study claims, as it considers that the rest of the players have declined across the board with respect to 2021, despite the 19% increase in the average price of properties sold with respect to 2020.
For the listed real estate investment trusts (socimi) sector, the gross asset value (GAV) amounts to around 54 billion and the top 20 companies account for 76% of the total GAV of all socimis in the country.