Tag: prime residential

Luxury Home Prices in Madrid Have Risen by More Than 10% in the Last Year, According to Knight Frank

09 August 2017

 

The Malca House

Madrid is the European city where luxury housing prices have increased the most

“Prime” housing prices in Madrid have increased by 10.7% in the last year, putting the city seventh in the world in price growth, according to the Prime Global Cities Index published by the real estate consultancy Knight Frank.

Luxury housing prices in the Spanish capital began their upward trend towards the end of 2016, “initially because of the lack of luxury residential projects in the more central areas, and now because demand has been pushing up prices in a segment that has become more sophisticated in the last 18 months,” Knight Frank residential director Carlos Zamora explained.

Zamora added that prices are also increasing because projects coming onto the market are “increasingly sophisticated, reaching the super prime segment.”

In addition, Knight Frank said that customers are “increasingly demanding” because in many cases they are international, second or third home buyers who “are looking for a ‘trophy’ asset, requiring qualities and design that are above the average of the usual luxury products.”

The index prepared by the consultancy is headed by Guangzhou and Toronto where prices have increased between 20% and 35% in the last twelve months.

In Europe, only Madrid and Berlin are in the ‘top 10’ cities with the highest annual price increases, occupying the seventh and eighth position, respectively.

Original Story: Europa Press

Translation: Richard Turner

UNIQ Residential Hits The Ground Running

13 May 2017 – Press Release

Two and a half years after the creation of UNIQ Residential, its first project is in the process of being handed over in the heart of Barcelona.

RS257 (www.rs257barcelona.com), a project in the “Mayfair” equivalent of Barcelona located between the prime streets Paseo de Gracia, Diagonal and Rambla Catalunya was always going to be in high demand due to its location, but in addition, the thought that the UNIQ team has put into efficient layouts, flexibility of design and sustainability make this one of the most emblematic residential projects of 2017 in Spain.

The building had a protected facade originally designed by Robert Terradas, a Catalan rationalist architect who developed the original building in 1958, which OAB, the award-winning architectural office of Carlos Ferrater, managed to further enhance by keeping the original spirit, but creating bespoke windows which allow the apartments to have 14m of uninhibited light entering the living spaces.

RS257 is a project with 15 units, including 3 penthouses with unparalleled views of Barcelona overlooking the Tibidabo mountain, and the main streets of the Eixample district. The ground floor unit of RS257 is currently under negotiations to be let to an exciting global retailer and the project has received the first LEED silver certificate for a multi-residential building in Barcelona.

While UNIQ Residential is young as a company, the team has a vast experience in development projects. Its creation was the result of merging an executive team that over 40 years had developed over 100 projects in their prior life, with Urban Input, a boutique real estate asset management firm focused on commercial real estate for institutional investors and Mario Chisholm, a real estate investor who had spent his time in London previously, often focusing on the Spanish market.

“We are extremely excited by the completion of this unique project” says Mario Chisholm, one of the co-founders and board members of UNIQ, “We knew we were buying in a great location, but the success has exceeded expectations as we bought the building before the perception of Spain had changed, in early 2014. Since then, the economy has strengthened, banks are lending again and demand is strong for well-designed and well-delivered products in good locations. We are also thrilled about the progress UNIQ has made since its inception; the integration of the different teams has been incredible and the positivity, energy and drive UNIQ has to deliver future projects sets out an exciting future.”

Other than RS257, UNIQ is developing another 4 prime residential developments in Madrid and Barcelona. Keep an eye out, more to come soon!

About UNIQ Residential

UNIQ Residential is an urban developer founded in 2014 with a strategy and purpose to respond to a more informed flat buyer by focussing on the quality of projects through design. UNIQ’s management team has a breadth of experience in all areas of real estate development, from conception to completion and have been working together for 20 years, building over 100 developments. Currently, UNIQ has 6 live developments in Barcelona and Madrid and is looking to expand further across Spain.

Original story: Press Release

Edited by: Carmel Drake