Wednesday, June 3, 2020
Home Land Madrid Puts 2...

Madrid Puts 26 Municipal Plots up for Sale for the Construction of 2,000 Affordable Rental Homes

These public plots, which span a buildable surface area of 151,651 square metres, will allow for the construction of more than 2,000 affordable rental homes.

Madrid City Council’s Urban Development team is going to put out to tender a total of 26 municipal plots, grouped into five lots on the basis of their building characteristics and locations for award under the land rights regime. These public plots will allow for the construction of more than 2,000 affordable rental homes, according to reports from idealista/news.

“It is the first time that a public administration in Spain is going to intervene in the rental market like this, which will contribute to a decrease in prices”, say sources from the Urban Development team. In total, the plots span a buildable surface area of 151,651 square metres and are distributed in 11 districts: Arganzuela, Carabanchel, Ciudad Lineal, Fuencarral-El Pardo, Hortaleza, Latina, Moncloa-Aravaca, Retiro, Villaverde, San Blas-Canillejas and Usera.

- Advertisement -


The Balearic Islands, Madrid and País Vasco, the Most Expensive Regions in which to Buy a Home

In the Balearic Islands, the average sales price of a home stood at €578,025 in the first quarter of 2020, compared to €122,072 in Castilla-La Mancha.

What was Happening in the Housing Market in Spain Before Covid-19?

House prices in Spain grew slightly during the first quarter of 2020, whereby maintaining the upward trend registered over the last five years, although they were showing signs of peaking.

The Rental Home Market in Spain Continues to Rise

The gross yield on rental housing stood at 6.81% for multi-family properties and 5.61% for single-family units in Q1 2020, according to data collected by BrainsRe.

The Retail Crisis of 2008 Lasted 5 Years and the Price of Premises Fell by 33%: How Much Will They Fall by during this New Crisis?

The Covid-19 crisis has come at a time when the prices of commercial premises have not yet recovered from the previous recession, the consequences of which lasted for five years.

Latest news

Pryconsa Launches its ‘Build to Rent’ Subsidiary with 358 Homes

The Pryconsa group's project by Resydenza in Torrejón de Ardoz will comprise 102 rental homes. The building work has just started and is expected to be completed in early 2022.

Moody’s Warns that the Decrease in House Prices will be Bad News for the Banks

The effects of the Covid-19 crisis will push down house prices over the next 12 to 18 months, demand will drop significantly, and banks will have to deal with more defaulted payments.

Investment in Real Estate Leasing Fell by 8% During the First 4 Months of 2020

New investment in leasing for movable property decreased by 32.6% to €1.7 billion, whilst for immovable property it fell by 8.1% to €258.8 million.

Investment and Leasing in the Logistics Sector are Growing at Double Digit Rates in Spain

Investment in logistics assets amounted to more than €210 million during the first quarter of 2020, whereby exceeding the average recorded during the same period over the last ten years, according to Knight Frank.