Real Estate Lead the Opening of Businesses in the Community of Madrid

In the Community of Madrid there are 732,889 business units each of the establishments that companies have in the region, which is 1.3% more than a year ago and 4.3% more than three years ago.

The economic bonanza pulls the creation of businesses in almost all branches of activity, but the largest increases are recorded in real estate and are 16,126, 20% more than in 2015 and recreational services (with 18,467, a 15, 8% more), according to figures published yesterday by the Institute of Statistics of the region .

The recovery of the real estate business in the Community is evident every day in the rises in the price of housing grew by 7.8% in the first quarter of the year, the number of mortgages which have returned to 2011 figures or in the fogosidad of the market of commercial premises whose profitability in the most sought-after areas of the capital has skyrocketed to 3.25%. In this context not surprising that the establishments that have multiplied the most percentage in the region since 2015 (20%) are those of real estate activities.

They follow them with an increase of 15.8%, the units that have to do with recreational services. Under this heading is a diverse group of businesses ranging from artistic creation, shows and libraries, archives and museums, to sports activities and gambling and betting. In this last area, the number of bookmakers doubled in the region between 2013 and 2017, to exceed 600.

On the opposite side, the industry continues to show its slow but unstoppable decline in the Community. Thus, industrial machinery companies have lost 6.8% of the productive units they maintained in the region since 2015 (up to 1,129); those of non-metallic industry, 5.9% (there are only 721 left), and those of paper and graphic arts.

In fact, the services sector is where the vast majority of companies in Madrid move and by extension each of their establishments in this branch of activity are 88% of business units which, apart from the fixed establishments, include the self-employed who have their domicile as headquarters.

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