All Market News: Spanish Real Estate Intelligence

The Council of Economists in Spain is asking for the problem to be addressed with subsidies for the rental, construction and purchase of buildings to be used for social and affordable housing as well as for public-private collaboration.

Through their JV Quasar, the companies have launched the sale of a portfolio of loans from Banco Popular consisting of seven hotels and a shopping centre.

House prices will fall by around 2% in 2021 in Spain, France and Italy, but will start to rise in 2022. The residential market will suffer the most in the areas most dependent on tourism.

The 22-storey building will house 76 homes on the seafront of Playa de Poniente. The residential property is expected to be finished by the end of 2022.

By the end of October, the property developer's pre-sale portfolio amounted to more than 1.1 billion euros with more than 3,350 homes sold and a further 3,150 units on the market.

The owners have presented a Partial Plan for an urban development oriented to tourist housing in the 'Altet-7 Salar de la Senieta' sector.

The low occupancy rates have led to a decrease in prices, which are down by 15.3% compared to October 2019, according to data from INE.

Evictions are currently prohibited until 31 January and the Executive is considering changing the rules to prolong the extraordinary measures.

Large international funds and property developers are taking advantage of the e-commerce boom to close 'safe-haven' operations in the Spanish property market.

Hotels have been forced to adapt to new ways of using their facilities to withstand the crisis; examples include renting rooms for longer stays and offering coworking spaces.