Build to Rent Leads the Sector in the First Quarter of 2021

Major developers such as Vía Célere, Gestilar, Aedas, and Metrovacesa have announced build-to-rent projects totalling more than 11,000 homes in the first three months of the year.

The build-to-rent business has become one of the leading sectors in recent months. In the first months of 2021, private and public companies have finalised major operations in the market, which is growing rapidly.

Samuel Población, Director of Residential and Land at CBRE Spain, believes that the key to the growth of build-to-rent in the Spanish market is that “500,000 rental homes will be needed within the next four-to-five years.”

Inmobiliaria Vascongada, owned by Lazora and Aedas Homes, finalised the most recent transaction. The developer, in which Castlelake has a stake, sold the company 300 homes in two developments. The projects are located in the new neighbourhood of El Cañaveral (Madrid) and Alcalá de Henares. They will have 160 and 128 homes, respectively, scheduled for delivery in the first half of 2023.

David Martínez, CEO of Aedas Homes, noted that they hope that “this first agreement with … Lazora is the beginning of a relationship that will involve more BtR projects.”

Read the full article in Spanish