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residential Market News: Spanish Real Estate Intelligence

Rental Homes Generated an Average Yield of 7% in 2019, according to Solvia
Lleida, Toledo, Valencia and Segovia were the most profitable cities for rental properties in 2019. The average rental price was €9 per square metre. Rental homes generated a return of 7% in 2019, up by one percentage point compared to the previous year. The average rental price amounted to €9 per square meter, which represented an increase in interannual terms of 2.4%, according to data from the IV Solvia Market View 2019. The most profitable cities last year were Lleida, where yields amounted to almost 8%, Toledo (7.5%), Valencia and Segovia (both 6.6%). “That is because in those cities you can still buy properties at affordable prices and, due to their locations, renting is a good option when it comes to obtaining a return on the investment,” explains Solvia. On the contrary, Barcelona is now the city with the least profitable rentals due to the high sales prices of the properties there.
 
Barcelona City Council Defers the Rental Payments on the Homes it Manages for the Next Three Months
Families living in properties managed by Barcelona City Council will pay their monthly rental payments for April, May and June on a pro-rata basis over the following 18 months. Barcelona City Council will not collect any rental payments for the homes in its public housing stock for the months of April, May and June. Thus, a total of 8,748 families living in rental homes managed by the Municipal Institute of Housing and Rehabilitation (IMHAB) – its acronym in Catalan – will not pay any rent until July. These families will pay the amounts corresponding to the monthly payments for April, May and June on a pro-rata basis over the following 18 months, in other words, between July 2020 and December 2021, according to a statement issued by the City Council on Tuesday. The three-month moratorium will also apply to the 1,400 subsidised homes and 400 commercial premises that IMHAB leases on the ground floors of the buildings that it has promoted.
 
Toni Kroos Launches his own Real Estate Company
The company's activities include property rental, as well as development and construction. The firm's registered office is located in La Finca. The football player Toni Kroos has created his own real estate company for the development and rental of properties, amongst other activities. The Real Madrid footballer has founded the company Kroos Properties XXI SL, according to Cinco Días. The company started trading on 17 February and its corporate purpose describes its activities as “the promotion, construction, purchase, sale, lease, transformation, development and marketing, in general, of all kinds of buildings, land, plots, and rural and urban estates”, in addition to ” the construction, urbanisation, excavation, foundation and demolition, either for itself or on behalf of others, as well as the disposal, sale, lease or operation, in any form, of all kinds of properties, buildings, flats, apartments, commercial and industrial premises, offices, hotels and hospitality establishments in general”.