Sunday, September 20, 2020
Home Companies 1810 Capital ...

1810 Capital Buys 72 Homes from Neinor To Put Them Up For Rent

1810 Capital Investments has closed a pre-sale contract with Neinor for 72 homes worth 20 million euros. The property developer will manage the rental properties.

A Neinor Homes development in Las Rozas.

The residential property developer Neinor Homes – which closed the first half of the year with a 38% drop in revenues after it failed to deliver all of the homes that it had planned – has decided to sell en bloc a portfolio containing more than 70 homes to which it will nevertheless continue to be linked as the rental manager for a period of at least three years.

Specifically, Neinor has closed an agreement, which was signed at the end of June, for the pre-sale of 72 homes, with their respective parking spaces and storage rooms, distributed over five developments currently under construction, and which will be delivered between the last quarter of 2020 and the end of 2022, for 20 million euros.

Read the full article in Spanish.

B-Exclusives

How Covid is Affecting House Prices: Map of the Decreases by District

The coronavirus crisis is causing house price decreases of up to 70% in some municipalities in Castilla La-Mancha, the Community of Valencia and Andalucía.

Property Developers Launch Large Urbanisations Post-Pandemic

Between April and August, work began on 996 developments in Spain with the ten largest comprising 1,691 homes. Of those ten, which are located in Madrid, the Basque Country, the Community of Valencia and Andalucía, four are being built by Amenabar.

Fearless Despite the Crisis: Property Developers Start Work on More than 27,000 New Homes Since April

Between April and August, work began on a total of 996 developments and 27,882 homes in Spain, according to data from the real estate big data platform Brains RE, with Amenabar, Habitat and Aedas the most active players.

Madrid Backs Luxury Housing to Curb the “Suburb Effect” of the Pandemic

Moncloa and Chamberí overtake the neighbourhood of Salamanca as the districts with the most expensive new build homes in the capital, whilst in Moratalaz there are no new build homes on the market.

Latest news

The Bank of Spain Warns of an “Incomplete” Recovery in the Real Estate Market

The entity forecasts an increase in investment in housing during the second half of the year associated with the progressive normalisation of the figures for house sales and new build starts.

Urban Land Prices Fall by 15% to Historical Lows

In the second quarter of the year, the average land price stood at 139.6 euros per square metre, down by 15.2% compared to 2019. In this way, it has fallen to the lowest level in the historical series.

Quabit Records Losses of €50 Million to June

The property developer recorded losses amounting to 37 million euros on the value of some land, which exacerbated its losses, despite delivering 410 homes during the first six months of 2020.

Room Mate Opens its First Apartment Building in Málaga

The property comprises nine exclusively-designed standard, superior and duplex apartments in the Be Mate division, including an impressive 114 square metre penthouse.