Cement consumption in Spain fell by 0.5% in February to 1,171,084 tons, down by around 5,500 tons compared to the same month in 2019, according to the latest cement statistics data, which is compiled by the trade association Oficemen. As such, cement consumption has now recorded four consecutive months of decreases, even before the coronavirus crisis, showing a clear slowdown in the construction sector. These figures mean that cumulative consumption so far this year has decreased by 4.5% to an absolute value of 2,206,568 tons, down by 105,000 tons compared to last year.
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.
The fund has postponed the sale of a portfolio of assets worth €900 million due to the economic situation caused by the coronavirus. AEW was going to market the portfolio at the 2020 edition of the MIPIM fair, according to Property EU, which has been delayed from March to June. The properties are located in France, Germany, the Netherlands and Spain, amongst other countries.
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