Thursday, July 16, 2020
Home Market Investors Pos...

Investors Postpone 70% of the Operations Underway Due to Covid

Investment is expected to fall by 30% to €9 billion this year; and 70% of real estate operations have already been canceled due to the impact of Covid-19.

Real estate investment started the year at record levels, with operations worth 3,225 million euros recorded during the first quarter, the second highest value in the last 14 years, despite the fact that the State of Emergency to curb the expansion of Covid-19 was declared on 14 March. However, since then the lockdown has caused real estate sales to plummet in the Spanish market, according to data from the CBRE consultancy collected by La Vanguardia.

At a meeting organized by the Esade Alumni Real Estate Club, Anna Esteban, Director of CBRE’s Barcelona office, explained that a third of the investment projects that were underway before the pandemic have been abandoned: 12% have been officially cancelled, and another 18% are considered “at risk” because negotiations have not continued. 70% of projects have simply been delayed, although 51% have been postponed indefinitely.

Read the full article in Spanish.


Rental Prices Fell by 10% in Madrid and Barcelona During the State of Emergency

During the lockdown, residential rental prices in Spain decreased by 4.9% on average, with the large cities recording the greatest falls.

House Prices in Madrid Rise by More Than 45% in Five Years

The average home cost 295,927 euros in the Spanish capital at the end of March, compared to 165,280 euros on average in Spain.

How Much Does it Cost to Rent a Home in Your Area According to the Government’s Statistics?

The map prepared by Brains RE using data from the Ministry of Development's index reveals the rental prices in each municipality in Spain; and they vary quite a lot compared to other indicators.

Where are the Most Expensive Homes in Spain?

25 Spanish towns registered house sales costing more than 3,300 euros per square metre during the first quarter, including eight municipalities in the Balearic Islands.

Latest news

Perial Asset Management Buys an Office Building in the 22@ District

Perial Asset Management has acquired a 3,520 m2 building in the 22 @ district for €14.5 million, which it has pre-leased for one of its funds, SCPI PFO2.

Santander, Sabadell and CaixaBank Put Loans Worth €4.4 Billion Up For Sale

The three financial institutions are reactivating the market for the sale of toxic assets following the shutdown due to coronavirus.

Madrid Relaunches the ‘Ciudad de la Justicia’ with the Opening of its First Building in October

Yesterday, the Community of Madrid's Ministry of Justice awarded the tender for the work to complete the Forensic Anatomical Institute and reactivate the unification of the judicial offices in Valdebebas.

Spaniards Go From Spending 28% of Their Salaries on Rent to 40% in 5 Years

According to the study entitled 'Ratio of wages and rental costs in 2019' by Fotocasa and Infojobs, the average Spaniard spent 40% of their income on rent last year, up by six points compared to 2018 (34%).