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All Market News: Spanish Real Estate Intelligence

Trinitario Casanova Files €713-Million Lawsuit Against BBBVA
16 October 2019 Trinitario Casanova announced that he had filed a €713-million lawsuit against BBVA, demanding compensation for damages stemming from Operation Chamartín. The owner of the Baraka Group contends that he is filing the lawsuit to defend the right of reversion that he acquired from the members of the Non-Abuse association, an NGO which was created to defend the rights of the original owners of the land where the Chamartín station is now located. In his lawsuit, Casanova argues that BBVA should pay him a total of 713 million euros should it not wish to accept the executive’s right of reversion and return the 1.3 million square meters of land linked to the Operation Chamartín. Original Story: Eje Prime Adaptation/Translation: Richard D. K. Turner
 
Andalusian Regional Government to Sell Land and Buildings Worth €320 Million
15 October 2019 The Andalusian regional government is preparing an auction of unused buildings and plots of land. The region’s General Directorate for Heritage has begun the process to sell, in a series of separate auctions, tens of thousands of square meters of land and of unused buildings. The public auction is expected to raise as much as 320 million euros, according to the draft budget for 2020. The government has already announced the first sale, 22 properties with a base price of 47.1 million euros, though Andalusia hopes to raise much more. After that, the government plans to sell a batch of urban plots of land in the first quarter of 2020. Original Story: ABC de Sevilla - Antonio R. Vega Adaptation/Translation: Richard D. K. Turner
 
Stoneweg Sells a Penthouse for €5,550/M2 in Tetuan
15 October 2019 – Stoneweg has just sold a flat in one of the two high-rise apartment buildings it is building in Tetuán, Madrid. The Swiss firm managed to sell one of the penthouses for a record sales price of 5,500 euros per m2.  The two 25-storey towers are located at Paseo de la Direccion 246. The three-bedroom penthouse, which a total surface area of ​​195 m2, sold for 60% above the average price for the district of Tetuán. The price is even above the average for the district of Salamanca, the most expensive in Madrid, at 5,148 euros per m2. Original Story: Idealista Adaptation/Translation: Richard D. K. Turner