In July 2020, rental housing in Spain had an average cost of 975 euros/month, a fall of 1.52% m-o-m, according to the website pisos.com.
The asset is currently valued at €70 million, but it is believed that the price will drop due to the effect of the Covid-19 pandemic.
The Qualitas Group fund has acquired a rental housing project under development by the Ingescasa in El Cañaveral, in which it plans to invest some 17 million euros.
In Spain, second-hand house prices rose by 0.7% in July in intermonthly terms and fell by -0.7% in interannual terms, according to Fotocasa.
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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.
The Supreme Court Annuls the Requirement to Notify the Treasury about the Transfer of Housing for Tourist Use
The High Court has annulled the article that regulated the obligation to inform the Treasury about the transfer of housing for tourist use by applying a ruling from the European Court of Justice regarding Airbnb.
More than 250,000 Britons reside in Spain, mainly in towns along the Mediterranean Coast where, in some cases, they outnumber the Spanish population.
High profile property developers, such as Aedas and ASG Homes, are sharing a leading role with local companies in an area where homes can cost more than one million euros.
The British investment manager is looking for a buyer for its real estate portfolio in Spain, which is valued at 700 million euros.
The sale of the first two portfolios post-Covid in Spain reflects the fears of the international funds, which are making offers with average discounts of 20%.