News, page 71

Culmea puts into operation Calmia Harribitxi Donostia. This is a luxurious five-storey project. It consists of 15 luxury houses with two, three and four bedrooms. The houses have a storage room and a garage. There are commercial premises on the ground floors that are sold on Idealista. A distinctive feature is the use of high-quality materials. Culmia Harribitxi Donostia is the result of the reconstruction of a historic building built at the end of the 19th century. During the restoration, the facade was preserved taking into account...

The developer Vía Ágora managed to get hold of all the land in the highly demanded area of the capital - Madrid-Rio. Last March, a company controlled by Juan Antonio Gomez-Pintado bought a plot of land from Sareb located at 191 Calle Antonio López (next to Parque Lineal del Manzanares) and has now managed to acquire the remaining 50% of the plot after winning an auction of plots from Reyal Urbis. In total, there are 7,000 sq. m. land suitable for building. Vía Ágora plans to build new buildings, and the area of the site...

Experts point out that now is the most favourable period for buying a house in Spain. However, how long will this last? Low-interest rates this year, especially at the end of August, mean that conditions are favourable for buyers looking to take out a mortgage. However, house values have been held back after last year’s fall and have begun to rise. According to the National Institute of Statistics (INE), house prices rose 2.4% quarter-on-quarter and 3.3% year-on-year from April to the National Institute of Statistics (INE). Experts...

The ADICAE (Association of Banks, Savings Banks and Insurance Users) has already warned several times that many mortgages that the pandemic has imposed a moratorium on will become dubious and lead to problematic situations. INE (National Institute of Statistics of Spain) confirms this: in the six months of 2021, there were 6,450 foreclosures on primary housing, compared to 5,361 that were recorded for the whole of 2019. INE statistics show that 60% of these house foreclosures come from mortgages signed before 2008. The...

VGP is a developer, manager and owner of logistics and industrial assets in Spain. The company closed the most important deal and acquired 35,000 square meters of logistics land in the cities of Martorell and Granollers, located in the first ring of Barcelona. This operation is part of VGP’s strategy to expand the land available for development. In Spain, it already has more than a million square meters of pure land in various locations in the country. The plots are located in San Fernando de Henares, Fuenlabrada, Llis, Amunta, Cheste,...

The average price of real estate listings declined slightly in August in Spain and especially in the Madrid community, according to the market’s leading source of classified ads, Idealista. The fall was 0.4%. According to the largest national real estate portal, August marked the first monthly decline in real estate prices in Madrid in 2021. Within three months of tight restrictions last year, house prices for sale fell an average of 6% nationwide. Sources close to one of the three largest Spanish valuation companies...

Sales and purchases in the Spanish hospitality industry have been repeated periodically since the pandemic. The latest on the market was the Hotel Monegal in Barcelona, located between La Rambla and Plaça Catalunya, one of the city’s most popular tourist destinations. The starting price of this establishment is € 29.5 million. The building, located at 62 Calle Pelayo, is owned by Catalan investors who put it on the market through various intermediaries. The asset has 53 rooms, and the net profitability is 6% of the selling...

Developers Montebalito and Altosa have begun construction on the Residencial Quintana, a 37-unit complex located in the Ciudad Lineal area. For the development of this project, Montebalito and Altosa are going to invest 9 million euros. Construction work, started in August by Valdivia Proyectos, Obras y Construcciones, is scheduled to be completed in 18 months. The complex consists of 37 one-, two- and three-room high-rise buildings on the ground floor, two standard floors and penthouses on the third floor with large terraces. The project...

According to the research service of Idealista portal, the number of rentals has decreased over the past year in Catalonia. Since the new law came into force in September last year, rents in Barcelona have decreased by 8.2%, less than in Madrid (-9.3%). However, in Barcelona, rents began to fall in 2019, even before the pandemic. The portal notes that rental prices have decreased in other cities where they previously experienced significant growth, such as Palma (-5%) or Seville (-1.7%). ...

Grupo Lar, a company specializing in investment, development, and property management, has closed a new deal in Barcelona, buying a plot of 8504 sq. m., where 75 one, two, and three-bedroom houses will be built in Sant Adria de Besos. They are expected to be completed and available for rent in the first half of 2024. This project, in which Grupo Lar is going to invest 21.4 million euros, is an addition to the one already under construction in L'Hospitalet de Llobregat. "Thanks to this deal, we now have two projects in...