All Market News: Spanish Real Estate Intelligence

B&B Hotels to Build New Hotel in Viana do Castelo
21 October 2020 - The French hotel group B&B Hotels announced that it will invest another 7.7 million euros a new project in Viana do Castelo, near Portugal’s northern border with Spain. The new three-star, 116-room hotel is scheduled to open in April 2022, and will have an area of about 4,000 m². The new hotel will have five floors, with an interconnecting bridge to a building next door. The hotel will be the 17th in a set of 34 planned investments by Goldman Sachs, after it signed a contract at the Viana do Castelo City Hall. Construction is set to begin this year, on a plot of land located between Rua Tenente Coronel Afonso do Paço and Estrada da Papanata. Original Story: Vida Imobiliária - Susana Correia Translation/Summary: Richard D. Turner
Acciona & CleverRed in Partnership to Build Middle-Class Housing
20 October 2020 - Acciona and CleverRed have created a partnership to develop middle-class housing in Lisbon, selecting JLL to market the more than 1,000 potential new homes. Construction on the partnership’s first new project, called Priority, will begin by the end of this year in Alcântara. The two firms will renovate a building located at  Rua Prior do Crato, creating 18 new flats. The flats will be completed in May 2022. The firms’ other projects include new builds and renovations in Alcântara, Graça and Olivais. Original Story: Vida Imobiliária - Ana Tavares Translation/Summary: Richard D. Turner
Housing Rents Costs Fall 11.1% in Lisbon
20 October 2020 - According to a report by Confidencial Imobiliário, residential rental costs fell by 11.1% y-o-y in Lisbon during the third quarter of this year. The figure marks the sharpest decline since Confidencial Imobiliário began publishing its Residential Rents Index in 2010. At the same time, however, prices in the city of Porto remained positive, even as the pace of growth dropped. Rental price rose by 6.5% y-o-y in the second quarter of this year, compared to just by 1.7% in the third quarter of 2020. In the Portuguese market as a whole, rental prices grew by 2.2% year-on-year in the third quarter of this year. Original Story: Jornal Expresso - Vítor Andrade Translation/Summary: Richard D. Turner