All Market News: Spanish Real Estate Intelligence

SafeGuard Sells Aloft Madrid Gran Vía Hotel to Henderson Park for €57 Million
12 August 2019 CBRE announced that SafeGuard Real Estate Management has sold the building that is home to the Aloft Madrid Gran Vía hotel to the European real estate asset management platform Henderson Park for more than 57 million euros. The property, which has a  long-term management contract with Marriott International, is located an excellent location in central Madrid. The 139-room hotel is 13 floors, a rooftop with an outdoor pool, a gym and a bar/restaurant. Original Story: La Vanguardia / EFE Adaptation/Translation: Richard D. K. Turner
Home Sales Fall by 9% in June
 8 August 2019 The sale of homes in Spain fell by 9% y-o-y in June, as the INE registered a total of 40,961 transactions. The fall was the steepest since February 2014. The new home sales fell by 7.8% year-on-year, to 7,205 transactions (17.6% of the total), while existing home sales dropped by 9.2% to 33,756 transactions (82.4% of the total). Month-on-month, housing sales fell by 13.9%, according to Spain’s statistical agency, the INE. Some regions still saw significant growth, such as Castilla-La Mancha (+9.2%), Murcia (+7.2%) and Galicia (+4.5%), while steep falls were seen in the Canary Islands (-22.5%), the Balearic Islands (-17.4%) and Aragon (-13.9%). Market watchers point to a period of adaptation after the entry into force of the mortgage law, a less benign international economic environment and a generalised slowdown as the pace of growth moderates due to a maturing market. Original Story: Expansión - M. G. Mayo Adaptation/Translation: Richard D. K. Turner