Montebalito Losses Rise, Reaching 830,000 Euros

14 August 2018

The real estate company’s Ebitda rose by 24% in the first semester compared to the same period in 2017, to 773,000 euros. In the year to June, the company had revenues of 4.6 million euros, up 22%.

Montebalito’s losses have increased. The Spanish real estate company’s losses went up by 14.6% in the first half of the year to reach 830,000 euros, the company reported to the National Securities Market Commission (CNMV). The company attributed the loss to the “negative impact of exchange rates (a depreciation of 17% for the dollar and 14% for the Brazilian real versus the euro) and losses on its trading portfolio.”

The group registered, on the other hand, a gross operating profit (Ebitda) of 773,000 euros, which represented an increase of 24% over the same period of 2017. The increase was led by an interannual increase of almost one million euros in the firm’s revenues, going from 3.8 million euros to 4.6 million euros, up 22%.

However, Montebalito’s financial losses reached 74% in the first half of the year. The real estate company almost doubled the 879,000 euros it had lost in June 2017, reaching a total loss of 1.53 million euros.

Two weeks ago, Montebalito announced that it would invest 8.8 million euros in the construction of forty homes in the Ciudad Lineal neighbourhood of Madrid. Also, last July, the historic real estate group announced that it had raised capital to amortise debt with Inversiones Malleo while it also awaits the incorporation of new partners as shareholders to execute its strategic plan. The developer foresees divestments of non-strategic assets in emerging countries and expects to concentrate on new projects in Spain and the European Union.

Original Story: EjePrime

Translation: Richard Turner

 

Ministry of Defence Puts 2 Plots in Madrid & Málaga Up for Auction for €30M

19 February 2018 – Eje Prime

The Ministry of Defence is continuing to divest land in Spain. The government agency has decided to put two more plots up for auction, one in Madrid and one in Málaga, for €30 million. The operation has been published on Addmeet and the auction will take place in April.

The first of the assets is located at number 82 Calle Arturo Soria, in Ciudad Lineal (Madrid). That plot has a surface area of 6,438 m2 and a buildable area of 23,861 m2. The typology of the land, which will go on the market for a price of approximately €25 million, is for equipment, according to explanations provided by sources at the platform for real estate auctions.

The second plot is located in Málaga, in the Hacienda Cabello neighbourhood, and will go up for auction for €4.4 million. The future owner of that land, which has a surface area of 6,270m2, may construct a residential building on the site, measuring more than 8,750 m2.

Last October, the Ministry of Defence sold two residential plots in Madrid. The auction of that land, located in Vicálvaro and Alcalá de Henares, generated revenues of €43 million for the Ministry.

Original story: Eje Prime

Translation: Carmel Drake

ST: New House Prices Rise By 4% In MAD & BCN

30 June 2016 – El País

According to ST Sociedad de Tasación, the average price of new homes grew by 4% YoY in June in the cities of Madrid and Barcelona. They were the two provincial capitals with the highest new home price rises in the last year. These price increases, which are not being seen in other capital, have been driven by the shortage of new home stock, explain sources at ST. “Our analysis of this data and of the increasing trend observed since June 2015 allows us to predict that Barcelona and Madrid are going to act as the drivers of the recovery process for new house prices, albeit at a slow pace”.

Barcelona is the provincial capital that recorded the highest new house prices, with an average of €3,390/sqm. Prices grew there by 2.2% during the first half of 2016. The YoY price increase in Barcelona was 4.1%, the highest of all of Spain’s provincial capitals.

By district, Gracia recorded the highest increase in new house prices, with a rise of 7.72%. It was followed by the neighbourhoods of Sarria-Sant Gervasi, with 6.94% and Sant Marti, with 6.38%. At the other end of the spectrum, the districts with the lowest YoY price increases were Ciutat Vella (1.33%), Sant Andreu (1.93%) and Nou Barris (2.33%).

And not only did the district of Sarria-Sant Gervasi in Barcelona record one of the highest price rises, it also registered the highest average price per constructed square metre, at €5,672/sqm. The districts of Les Corts and L’Eixample were ranked in second and third place, respectively, in terms of average prices, with values of €4,610/sqm and €4,511/sqm. By contrast, the districts with the lowest average prices were Nou Barris (€2,721/sqm), Sants-Montjuic (€3,024/sqm) and Sant Andreu (€3,062/sqm).

In Madrid, a new home costs €2,886/sqm on average

In the case of Madrid, new house prices have grown by 4% with respect to the previous year and by 2.1% during the first half of 2016. That takes the average price of new homes in Madrid to €2,886/sqm.

The ranking for the YoY variation in new house prices is headed by Ciudad Lineal, which saw growth of 5.8%. It was followed by Barajas, with 5.7% and Arganzuela, with 5.4%. At the other end of the spectrum, the neighbourhoods with the lowest YoY price variations were Hortaleza (0.8%) and La Latina (1%), followed by Tetuán (1.8%).

In terms of the average price of new homes, Salamanca was once again the most expensive district in the capital, with an average price of €4,799/sqm, followed by Chamberí (€4,626/sqm) and the Centre (€3,939/sqm). By contrast, the neighbourhoods of Vicálvaro, Villaverde and Villa de Vallecas registered the lowest average new home prices, of €1,856/sqm, €1,883/sqm and €2,203/sqm, respectively.

Original story: El País (by S.L.L.)

Translation: Carmel Drake