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Neinor to Increase its Residential Rental Portfolio in 2023 & 2024

The company expects to deliver between 2,500 and 3,000 homes per year, whereby generating an EBITDA of between 140 and 160 million euros.

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Neinor Homes, the first residential developer to go public following the 2008 property crisis, is turning its business towards the delivery of homes for rent, rather than traditional sales to individuals. In 2023 and 2024, this type of transaction as a percentage of Neinor’s total activity is expected be very significant, according to reports from Cinco Días.

At the presentation of the company’s half-year results, its representatives acknowledged this change: “our delivery mix will change towards rental in 2023 and 2024”. According to the property developer, this format backs diversification and, in addition, “it naturally adjusts to the cycle” in a macroeconomic context still characterised by a lack of new build homes, ongoing uncertainty, rising interest rates and a probable recession resulting from the invasion of Ukraine by Russia and the ensuing energy crisis.

Read the full article in Spanish.


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