The Capriles Family will Set the Tone for Operación Calderón with Flats Priced from €5,700/m2

14 February 2019 – El Confidencial

It is a question of weeks. Gran Roque, the investment vehicle owned by the Venezuelans Miguel Ángel and Áxel Capriles, is going to start marketing homes in its most affordable development in Madrid within the next few weeks. The development comprises 105 homes and is located just 600 metres from the Vicente Calderón stadium. The properties are going to be put on the market for €5,700/m2. That price will, undoubtedly, serve as a reference for the potential buyers of the plots in the future Operación Mahou-Calderón, which is currently on standby until the plans for the urbanisation and Reparcelation of the area have been definitively approved.

As reported by El Confidencial, in October 2017, the Venezuelan clan purchased buildable land from Prosegur, just a few metres from where Operación Calderón is going to be built. For that plot, which has not required any type of urban development procedure and which is designated for residential use, as provided for in the General Urban Development Plan (PGOUM) for Madrid dated 1997, they paid around €25 million, approximately €2,900/m2. That price is close to those what is being considered for the plots owned by Atlético de Madrid.

According to explanations provided to El Confidencial by various sources, the development comprises five 5-storey buildings – except for one that has 4 storeys – and to optimise the price, Gran Roque has decided to start by marketing just two of the blocks, which contain 55 flats. In other words, like other property developers have been doing in Madrid, if the first homes maintain a high rate of sales, all indications are that the prices in the subsequent phases will be higher.

The construction permit will be ready by the end of April or the beginning of May, and so the marketing cannot officially begin until then. Nevertheless, 20% of the 55 units have already been reserved, according to assurances given by those same sources.

The project includes 2-, 3-, and 4-bedroom homes, all of which have a parking space and storeroom included in the price. The smallest units will go on the market from €450,000 plus VAT; the 3-bedroom homes will start at €550,000; and the largest homes will cost more than €600,000. That equates to a price of €5,700/m2, which is very high for many Madrilenians, but well below the prices typically charged for luxury developments.

Located just a few metres from Madrid Río and the Río Manzanares, the development will contain two swimming pools (one for children and one for adults), a gym, a children’s play area, a bicycle room and 24-hour surveillance, amongst other features. In total, it will have 1,719 m2 of common space (…).

Original story: El Confidencial (by E. Sanz)

Translation: Carmel Drake

Taylor Wimpey España will Launch 6 New Developments in H1 2019

7 December 2018 – Eje Prime

Taylor Wimpey is going to continue betting on second homes in Spain. The British property developer is going to launch six new developments in the country during the first half of 2019. The projects will contain 330 homes in total and will be located in three main areas: the Balearic Islands, the Costa del Sol and the Costa Blanca.

The real estate company, which celebrates its 60th anniversary this year, will start work on the three projects in the Balearic Islands, two on the Costa del Sol and a sixth on the Costa Blanca next year. “As always, our priority is to look for locations on the beachfront with access to golf facilities”, explained the company in a statement.

Specialising in international buyers, Taylor Wimpey España has received reservations from 37 different nationalities this year. Of all the countries, Germany stands out, where 27% of its clients have come from, and the United Kingdom, which has accounted for 12% of all the reservations made.

With more than 6,000 homes constructed over its six-decade history, the property developer is listed on the London Stock Exchange and undertakes its developments using own funds, a fact that “influences” buyers, according to Marc Pritchard, the company’s sales director. “For buyers, it is a guarantee of the development’s success since the investment is not affected by possible fluctuations in the market”, said the executive.

In 2018, Taylor Wimpey arrived in Sotogrande as an extension of its presence on the Costa del Sol, as revealed by Eje Prime. In the four months since its project Pier Sotogrande has been on the market, the property developer has managed to obtained reservations for 30% of the 56 homes that will make up the promotion.

Original story: Eje Prime

Translation: Carmel Drake

Spanish Hoteliers See No ST Threat From Brexit

3 August 2016 – Hotel News Now

Spanish hoteliers said they have yet to see any immediate negative impact on tourism from the U.K. since that country voted to leave the European Union.

“Spain has long been, and should remain for the foreseeable future, the favored vacation destination for British visitors despite Brexit, and all indications are that bookings well into next year are still healthy,” said Juan Molas, President of the Spanish Confederation of Hotels and Tourist Accommodations (CEHAT), during a 28 July news conference.

The U.K. is Spain’s largest source market for foreign visitors. Last year, 68 million foreign visitors traveled to Spain, which was an increase of 5% over the previous year. Approximately 16 million Britons accounted for 21% of those visitors.

Following the victory for the “leave” vote in the 23 June Brexit referendum and the resulting drop in the value of the pound against the euro, there was concern in the Spanish hotel sector that the subsequent higher prices would keep Britons away.

But hoteliers noted that British travelers traditionally reserve their holidays months in advance, so there appears to be no immediate negative impact on peak business this summer.

Molas said that momentum should extend into the 2016-2017 winter season and next summer. He added that Spain’s tour operators and travel agencies that sell package vacations—which are used by 70% of British tourists when booking their Spanish holidays—have noticed steady booking trends well into 2017.

“Spain continues to be the most popular vacation spot for the British, who don’t tend to travel for leisure to some of our competitors like Egypt or Turkey, which are more popular among the Germans and French,” he said. “Spanish hotels and destinations offer the British what they want on a holiday: safety and good value for money. We’ve seen the pound-euro exchange rate fluctuate often in the past, and there was no lasting major effect on us.”

But Molas cautioned the weaker pound could curtail daily spending by British visitors in Spain and London will now be a cheaper alternative for event booking than Spanish cities.

“London is our biggest competitor in Europe for the convention trade, and Paris, where hotel prices have fallen because of the recent unfortunate events in France, is also a rival,” he said. “But our biggest competitor in all of this would be for the British to decide not to travel and just stay home.”

Long-term effects of Brexit are still unknown, said CEHAT Secretary General Ramón Estalella.

“We don’t have a crystal ball to see into the future, but there are three important unknowns to consider,” he said. “One is when Britain will finally leave the EU and what further effects that might have. Two, no one knows where the pound will be in value (in) six months or there could be a crisis in Europe dragging down the value of the euro and so making the pound stronger. And three, what might happen in our competitor countries that could affect the British source market.”

The CEHAT executives also presented the findings of a survey of its members—which include 54 local and regional hotel associations and 1.5 million beds—on the sector’s performance through the end of the summer. A majority of the respondents are looking forward to a positive high season thanks largely to a rise in room rates and longer average stays by guests, which will result in higher profits.

Molas said hoteliers are confident that the continuing demand from both Spanish and foreign guests will increase.

“What’s important now is to use the occupancy rates to maximize earnings and promote Spain through advertising and marketing so we can cement its position as one of the leading tourism destinations in the world,” Molas said.

Original story: Hotel News Now (by Benjamin Jones)

Edited by: Carmel Drake