News, page 73

In August 2021, dozens of real estate companies reported their financial results and completed deals started earlier in the year. The US investment firm Cohen & Steers had taken a 5.185% stake in the capital of Neinor Homes developer to become the third-largest stakeholder, as reported by the company to the Spanish National Securities Market Commission (CNMV). This is not the first time Cohen & Steers buys a stake in the Spanish developer. It had been among Neinor’s shareholders in 2017, but exited a year later. ...

Residential developer Habitat Inmobiliaria has closed a deal to acquire two plots of land in Vigo, in the Arenal and San Roque districts, to develop two residential projects with a total investment of €30 million. The Arenal site, where the community called Habitat Areal is going to be built, is located in the waterfront heart of the city of Vigo. About 50 homes will spread over the area of 6,900 square meters. The project is expected to attract over €17 million worth of investments. ...

Residential communities are a safe haven of profitability for rental property investors. The aggregate price of rental housing in Spain increased by 41% over the past five years and advanced by 32% over a decade. Meanwhile, in Canary Islands, Valencia, La Rioja and Navarra, the growth came in at 49%, 46%, 43% and 42%, respectively. Since 2016, the average price per square meter of rental housing increased by 41% in Spain (from 7.40 euros per square meter in June 2016 to 10.44 euros per square meter in June 2021). In 2016,...

In August, Idealista property portal listed 774 prime homes worth over €1 million in the province of Cadiz. According to the report, Cadiz will be among the top ten provinces with the largest number of luxury homes in Spain, 73% of which are concentrated in Malaga, the Balearic Islands, Madrid and Barcelona. Out of 774 properties, the vast majority (684 homes) are valued at over 1 million euros. There is even a more exclusive segment, ultra-luxury properties, with price tags exceeding 3 million euros. In the province...

PropTech (also referred to as property technology) is a set of modern technology solutions for the real estate industry. Having its roots in Britain in 2014, PropTech has attracted an increasing number of leading real estate firms. Similar to FinTech, the innovative technologies merge to streamline and digitalize the property market. They include property portals, software for property management, virtual reality, home automation, Internet, etc. There are a lot of companies that facilitate the process of property buying and...

The most expensive property for sale in the Canary Islands is located in the municipality of Santa Ursula. Its price is 8.800.000 euros. The price per square meter of the building is about 7300 euros, considering that the building area is 1209 square meters. The house has three floors, the building also has several swimming pools — a panoramic one is located on the edge of a cliff, as well as six bedrooms, four of which are double suites (one is reserved for servants), nine bathrooms and a panoramic elevator. The house uses the...

The Spanish Real Estate Association Personal Shopper (Aepsi) assumes 550,000 annual home sales in the period 2022-2025. According to Aepsi forecasts, by the end of 2021, the number of home sales in Spain may reach 450,000. According to Aepsi President Iñaki Unsain, after 2020, full of uncertainties and restrictions, vaccination and the forecast of economic growth for this year, which, according to experts, will be about 6%, gave hope to the real estate market in 2021. "Domestic demand and economic recovery will be key factors for the...

The cost of a dorm room in Palma is 390.71 euros per month, which makes the city the fifth most expensive provincial capital of Spain, according to a study by Pisos. The real estate portal reports that the average rent in the country decreased by 0.60% in 2021 compared to 2020, or rather from 270.79 euros to 270.49 euros per month. In addition, it was noted that the outbreak of the pandemic forced many students to leave their dormitories and return to their parents' home, which also had an impact on the housing market. ...

Who does not dream of living in a huge mansion, equipped with all the amenities? According to Idealista, there are not so few people who at some point imagined this: 83% of the surveyed users admitted that they viewed ads for luxury housing only for the pleasure of admiring houses. 1. Villa in La Zagaleta, Malaga This is an impressive villa of more than 3000 sq. m. on a land plot of 5900 sq. m. It is located in La Zagaleta, the exclusive urban place, and has 5 bedrooms, a swimming pool, a bowling or a golf simulator. This...

In Spain, the number of mortgages soared by 41.2% in June compared to the same month last year, according to the data unveiled by real estate portals Pisos.com, Idealista and Fotocasa. Pisos research director, Ferrand Font, said the June home mortgage data recorded in land registries confirm a return to pre-pandemic levels, so he expects a good end to this year for the real estate sector. Moreover, Font was struck by the situation in the mortgage market, and also expressed doubt that this is a new trend. ...