Grupo Nyesa Begins Sale of 20,000-m2 Portfolio of Homes

15 July 2019 – Richard D. K. Turner

Grupo NYESA is selling a portfolio of flats and villas in Valencia, Madrid, Toledo, Cantabria, Murcia and Extremadura, with more than 20,000 m2 of constructed surface area. The properties include apartments, modern single-family homes, charming houses, penthouses. Prices range from 25,000 to more than 230,000 euros.

Original Story: Idealista

Housing Prices Break Records in 16 Regions… 11 are on the Coast

19 August 2018

The increase in the price of housing has been especially pronounced in the Spanish archipelagos.

The real estate sector is already beginning to show signs of heating up on some levels. Many indicators are still below those registered during the real estate boom, but others are already reaching record highs, and not only in Madrid and Barcelona.

In fact, of the 16 localities and municipalities that are already reaching new record highs, 11 are outside of these cities and on the coast.

Sant Just Desvern (Catalonia); Retiro, Salamanca, Centro and Chamberí (Community of Madrid); Benhavis (Andalusia); Calviá, Ibiza, Palma de Mallorca, San José and Santa Eulalia del Rio (Balearic Islands); Gran Alacant (Comunidad Valenciana) and Adeje, Arona, Granadilla de Abona and San Bartolomé de Tirajana (Canary Islands) are the areas where prices have already exceeded the records set during the pre-crisis real estate boom, according to data published by Idealista.

The residential market on the Spanish coast is experiencing a gradual recovery, but there are already cities that have returned to pre-crisis levels. The locations that first began to stabilise after that period are already demonstrating intense growth in prices and new housing construction activity.

However, there are also markets that are still showing signs of the bursting of the bubble, which can be seen in the oversupply of that time and the current weak demand, as Tinsa points out in its report on the Spanish residential market on the coast.

In one year, the areas that were in a situation of moderate adjustment have been reduced by half, from 27.6% to 11.2%. On the other hand, 36.5% of provinces and municipalities near the coast already are in the process of “clear recovery.”

Regarding the trend in prices, statistics from bank appraisals in the first quarter of 2018 reflect positive year-on-year growth in 104 of the 147 coastal municipalities that have available data, compared to 84 that showed positive growth in last year’s report.

Algeciras, Barbate, Cantabria and Asturias: the areas where the recovery is taking the longest to appear

The main signs of a recovery in the market already occurred three years ago, but 2018 has been a year for setting new records, with prices reaching highs in many areas, particularly in the Spanish archipelagos.

There are also other areas, such as the Costa del Sol, the north and south of the provinces of Alicante, the Maresme and around Barcelona. In recent months, some markets have begun to awaken to mainly national demand, where there have been signs of improvement.

On the other hand Algeciras, Barbate, Cantabria and Asturias are the areas where this recovery is taking the longest to arrive.

Need for new housing

The stock of new housing that remained after the outbreak of the crisis also beginning to be absorbed. The stock is at an average level in 47.7% of the areas, although in half of those the supply could be absorbed in the short term, according to Tinsa.

Among the locations where it is practically non-existent (19% of the areas), Ibiza stands out along with the Conil and Tarifa (Cádiz) coasts; Fuerteventura, Lanzarote and south of Gran Canaria, as well as the Basque coast.

It is natural that this has been accompanied by an upturn in the activities of developers. After years of almost total paralysis, where construction was conspicuously absent due to weak demand and overcapacity, developers once again began to increase their operations in specific enclaves of the Alicante coast and Costa del Sol.

The market has been recovering slowly. In half of the areas analysed (50.8%), Tinsa noted that the construction of new housing projects has begun, compared to 36.2% in last year’s report.

Original Story: Vox Populi – David Cabrera

Photo: Teresa García

Translation: Richard Turner


Mazabi Acquires the ‘Dávila’ Office Building in Santander

22 January 2018 – Press Release

Mazabi Gestión de Patrimonios is continuing to invest in the office segment with the acquisition of Edificio Dávila.

The building is located on General Dávila, 87, in the city of Santander (Cantabria), and has a surface area of 9,585 m2. The property is located in the centre of the Cantabrian capital, approximately 1km away from the Town Hall, and is surrounded by green spaces and public areas in the upper district of the city. It is well connected and has 126 private parking spaces. Constructed in 2013 in a modern and contemporaneous style, the building is characterised by its glass façade and regular shaped floors, with wonderful natural light and views from its upper levels.

The offices are currently leased in their entirety to the Government of Cantabria under an initial 35-year contract and over a concession period of 52 years. They house a number of the regional Government’s social and IT services.

Mazabi manages assets worth more than €1 billion and has investments in 14 countries. With a team of 22 professionals located in Madrid, Bilbao and Málaga, Mazabi considers that investment in Spain continues to be attractive due to the on-going economic growth and the historical influx of tourism (…).

Original story: Press Release

Translation: Carmel Drake