Four of the biggest contractors in Spain are accumulating 18,000 homes under construction

Currently, the largest companies have a pre-sales portfolio. Covers most 2023 deliveries and part of 2024. 4,789 reserved apartments in Aedas, Neinor, 2,518; Via Célere, 2,702; and Metrovacesa, 3,047. This will ensure that the first, in which the North American fund Castlelake participates, goes to 1,490 million euros; A total of 679 to Neinor, controlled by the Orion and Stoneshield funds; up to 936 million to Vía Célere held by Värde Partners; and Metrovacesa, owned by Banco Santander, BBVA, and boss Carlos Slim, 737 million. Total, Total pre-sale worth 3,842 million euros.

first nine months of 2022

In the first three quarters of 2022, sort by number of deliveries led by Neinor, with a total of 1,548; followed by Aedas (1,496), Metrovacesa (1,327) and Via Célere (1,197). The average prices at which these homes are sold vary. The most expensive is the Aedas, averaging 386,000 per floor. Behind him is Neinor with 327 thousand euros and Via Célere with 320 thousand euros. The cheapest is Metrovacesa with a ticket of 265,000 euros per property..

But although Neinor delivered more keys between January and September, the backer of the Castlelake fund continues to have the highest turnover with revenue of 577 million. Then Neinor entered 506 million, Via Célere entered 383 million; and Metrovacesa, with 351 million. This is a Total turnover of more than 1,800 millionBetween January and September.

The goal of the Orion and Stoneshield organizer is to finish the year between 2,500 and 3,000 and the Castlelake company around 2,600; the remaining two will close between 1,600 and 2,000 floors. If the estimated completion estimates come true, Aedas will close the fiscal year with revenue of 900-925 million, Neinor 800-900 million and Via Célere 425-475 million. Metrovacesa did not provide its forecast for 2022.

Profit margins for promotions range from 21% to 29%. Among all they declared some approximately 170 million combined earnings euro.

new business

market New construction housing accounts for only one-fifth All sales in Spain, for example, recorded 564,569 residential transactions in 2021, the highest level in the last fourteen years; however, only 19.8% of forwarded homes were new. The remaining 80.2% was second hand.

Therefore, the market consensus is: Prices of new flats will not decrease because production is low. and everything built is sold. In recent years, acquiring a new construction home has become a ‘rare bird’, even a luxury item.

According to the 2022 first term report of the Valuation Association, the average square meter price of a brand new house is 2 thousand 641 euros. While the price increases by 3.5% in the first months of the year, the annual difference rises to 6.4%. “All autonomous communities record annual increases that oscillate between 3.6% of La Rioja and +8% of the Balearic Islands,” the appraiser says. These prices are lower than the maximums reached during the housing bubble.when properties for sale are recorded at a price of more than 3,000 euros per square meter.

In terms of sustainability, the beneficiaries did their homework. “About half of the new construction developments launched this year achieved an energy rating of A, reaching quotas of 50% and 45% for emissions and consumption, respectively, in 2022. Having received an A or B label for emissions and consumption, increased by 96% and 95% respectivelyalmost all of the new developments under construction” concludes Sociedad de la Tasación’s research.