Idealista: Rental Prices Rose By 15.9% In 2016

17 January 2017 – Expansión

The price of rental housing underwent a recovery in Spain in 2016, ending the year 15.9% higher than it started it, taking the price per m2 to €8.2/m2/month. The rate of growth accelerated during the last month of the year, as prices increased by 8.2%.

Fernando Encinar, Head of Research at Idealista, said that “this is not a bubble but rather a significant increase in demand from Spaniards to rent in certain cities.

The Director of Idealista said that to encourage the growth of the rental market “policies to revitalise the sector must continue and new measures must be adopted to help to increase the housing stock”.

By autonomous region

All of the autonomous regions saw higher prices than a year ago. The largest increase was observed in Cataluña, where owners are now demanding 26.8% more to lease their homes than a year ago. It was followed by increases in Madrid (18%) and the Balearic Islands (13.8%).

Cataluña (€13.30/m2/month) also became the most expensive autonomous region. It was followed by Madrid (€12.90/m2/month) and Euskadi (€10.40/m2/month). At the opposite end of the spectrum, we find Extremadura (€4.1/m2/month), Castilla La Mancha (€4.5/m2/month) and Murcia (€5/m2/month), the cheapest autonomous regions.

By provincial capital

Valencia is the capital where rental prices grew by the most in 2016, with an increase of 20.3%, to €7.5/m2/month.

The increase recorded in San Sebastián was also noteworthy, with prices up by 17%, followed by Barcelona (16.5%) and Madrid (15.6%), which have returned to their historical peaks.

Barcelona consolidated its position as the most expensive Spanish capital (€17.9/m2/month), followed by Madrid (€14.4/m2/month) and San Sebastián (€13.6/m2/month). At the opposite end of the table, we have Lugo (€4.1/m2/month), and Ourense and Ávila (€4.3/m2/month in both cases), the cheapest provincial capitals.

Original story: Expansión (by Rubén San Isidoro)

Translation: Carmel Drake

Redevco Iberian Ventures Buys 6 Retail Parks From Bogaris For €95M

27 April 2016 – Expansión

The shopping centres are located in Extremadura and Andalucía and have a combined surface area of 84,250 m2.

Redevco Iberian Ventures, the joint venture created between Redecvo and the funds managed by Ares Management, has acquired six retail parks located in Extremadura and Andalucía from the property developer Bogaris for approximately €95 million.

The parks, which have a combined surface area of 84,250 m2, are leased almost in their entirety to tenants such as the supermarket chains Mercadona, Aldi and Día, the fashion brands C&A, Kiabi and Merkal Calzados, and operators Burger King, Media Markt, Sprinter and Aki Bricolaje.

Specifically, the parks are: Mejostilla, in Cáceres; Kinepolis Pulianas, in Granada; Marismas del Polvorín, in Huelva; La Heredad, in Mérida; Retail Park, in Motril; and La Serena, in Villanueva de la Serena.

Ares and Redevco announced the creation of Redevco Iberian Ventures in September 2015 and following this operation, the total capital invested by the joint venture now exceeds €200 million. JLL and Deloitte acted as advisors to Redevco Iberian Ventures in the operation.

Original story: Expansión

Translation: Carmel Drake

Manchester City’s Owner Buys 8,300ha Estate In Extremadura

18 April 2016 – El Mundo

Mansour Al Nayhan (pictured above), the owner of the English football club Manchester City, for which he paid more than €300 million, is a different kind of sheikh. Far from setting his sights on Marbella or Ibiza, like other wealthy Arabs, one of the 19 siblings of the emir of Abu Dhabi has been seduced by the Extremaduran countryside. Last Friday, it was revealed that he has acquired Los Quintos de San Martín, an 8,300 hectare estate in the small Extremaduran town of Valencia de las Torres, which has been owned until now by the Mora-Figueroa family. The price: almost €55 million. (…).

Specifically, the member of the Emirati royal family has done business with Ramón Mora-Figueroa Domecq, from Jerez, one of the most important landowners in Andalucía, who has managed the family estate until now. According to Forbes’ rich list for 2015, Ramón and his siblings (Silvia, María and Fernando) have a combined fortune worth more than €7,000 million. The four manage an extensive network of estates, land, vineyards, properties, industrial warehouses and concessions – Los Guadares, Canteruelas, Agriculturas Diversas and Netco are the largest ones – which makes them one of the most influential families in the south of the peninsula. (…).

Mansour’s fortune comes from black gold (his father, the sheikh Zayed bin Sultan Al Nahyad discovered oil in the UAE in 1958 and was the first President of the country). The sheikh plans to improve sheep farming on the estate, through which the Matachel river runs, to include another 8,000 heads (there used to be 12,000) and to export thousands of lambs each year (…).

Original story: El Mundo (by Borja Ruiz)

Translation: Carmel Drake