residential Market News: Spanish Real Estate Intelligence

Vía Célere to Build 60-Flat Portodouro Residence
22 January 2020 The Spanish developer Vía Célere has obtained financing to build the new development Célere Portodouro, in the Boavista area of Porto. The firm chose Predibisa and JLL to market the new housing development, which is located at the corner of Rua de Grijó and Rua Orfeão do Porto, in Lordelo do Ouro. The Célere Portodouro will be a closed condominium composed of 60 one to three-bedroom flats. The building will have six above-ground floors, along with allocated storage and parking for each flat. The Célere Portodouro will also include a gym, a game room for kids and gardens. Original Story: Diário Imobiliário Translation/Summary: Richard D. Turner
Mortgage Rates Fall in December
22 January 2020 Average mortgage rates fell by 0.6 basis points to 1.011% from November to December, according to the National Statistics Institute (INE). For mortgage contracts signed in the last three months, the average rate dropped from 1.086% to 1.065%. At the same time, the average monthly mortgage payment increased by two euros to €248. For contracts signed in the last three months, the average payment rose by 29 euros to 365 euros. Original Story: Jornal Econômico - Rodolfo Alexandre Reis Photo: Cristina Bernardo Translation/Summary: Richard D. Turner
Norfin to Invest €200 Million in the Metropolis Development
20 January 2020 Norfin announced that it would invest 200 million euros to build the new Metropolis development in Lisbon. The firm had previously acquired the project from the Multi Corporation. The real estate manager, a subsidiary of the Arrow Global Group, intends to build a more than 80,000-m2 mixed-use development in the area of Alvalade.   The development, on the grounds of the former stadium, will include four new class-A office buildings, with a total of 37,600 m2, three apartment blocks with 30,250 m2 and more than 200 flats. The area will have house 11,100 m2 of stores and services, with construction set to begin at the end of the year. Original Story: Jornal Econômico - Rodolfo Alexandre Reis Translation/Summary: Richard D. Turner