A decade after bubble, Spanish real estate a hot buy again

London

SPANISH real estate is hot property once again.

Investment in malls, warehouses and offices this year is set to reach the highest since 2007, just before the bursting of a decade-long property bubble tipped the economy into the worst slump in the nation's democratic history.

Banks are clearing the way for the turnaround, beating their eurozone peers in ridding their balance sheets of foreclosed assets and luring foreign buyers to heavily discounted properties.

And with Spain's economy now outpacing the rest of the continent, 2018 is set to be as strong for commercial real estate investment as 2017, according to Savills.

"It's basically the year when it's all come together," said Ismael Clemente, founder and chief executive officer of Madrid-based Merlin P…