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Vbare Increases its Revenues by 17.6% to September

The gross income obtained from rentals by the Socimi Vbare increased by 17.6% during the first nine months of the year to reach 1.6 million euros.

VBARE San Andrés Madrid 1 1024x768 1
A building on Calle San Andrés, owned by Vbare.

The gross income of the Socimi Vbare, obtained from leasing its residential properties, grew by 17.6% between January and September compared to the same period in 2019, to reach 1.6 million euros.

The average occupancy of its core asset portfolio remained stable, although it was impacted during the third quarter. The level of defaults was also impacted, although the company reported that 70% of its contracted income is covered by bank guarantees and non-payment insurance.

Read the full article in Spanish.

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