Spanish commercial real estate sector grows by 140%

New business start-ups in the Spanish property sector has grown by almost 140% in the first five months of 2011, compared to the same period in 2010, rising from 514 to 1,233 new businesses formed, according to a business study published by D & B.

Globally, new companies reached 38,610, an increase of 3.89% more than the period up to May 2010, with trade activity increasing most, accumulating 7,248 new companies. In contrast, the energy business recorded the worst performance, with a fall of 47.53%.

By region, Madrid saw the biggest increase, with 8,096 companies, 20.97% of Spain’s total, followed by Catalonia, representing 18.72% and Andalusia, with a 16.20% increase.

On capital employed, the figures for 2010 were higher due to the formation of the State Lotteries Commission with a registered capital of 12.5 million euros. At the same time, in terms of investment, energy was the hardest hit sector with a decline of 94.19%.

Source: Kyero