A senior executive at Spanish real estate investment trust Merlin Properties has warned that the Catalan region’s bid for independence is having an adverse effect on real estate investment.
Ismael Clemente, the company’s chief executive officer, warned there had been a change in sentiment about Catalonia, and that issues about independence were “hurting the market a lot.” A recent poll put support for independence at over 80% among those who voted.
The Catalan government, however, disputes the comments, saying that investment is increasing because of the economic recovery. Analysts suggest though that those gains could be capped as a result of the political risk.
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