Barcelona acquires four buildings in the Eixample

Barcelona acquires four buildings in the Eixample

Calle Balmes, Barcelona

Barcelona City Council continues to expand the public housing stock, essentially for social and affordable rent. For this, the Municipal Institute of Housing and Rehabilitation of Barcelona (IMHAB) has closed four operations for the acquisition of four properties in the neighborhoods of San Antonio, the New Left of Eixample and Right of Eixample, totaling 67 homes and 7 commercial premises.

The four farms are in good general condition and will only require some improvement and rehabilitation interventions in some homes as well as in common spaces. Altogether, the investment of the IMHAB amounts to 21.6 million euros, including the amounts of both the purchases and the estimate of the planned renovation. In any case, it is an investment below the market price, with savings of between 31% and 38%.

14 homes in the New Left of the Ensanche

The acquired building is located on Calle Calabria and is made up of 14 homes, two empty premises, and two in operation. The investment for this property amounts to 4.5 million and 291,500 euros for the rehabilitation.

23 homes on the Right of the Ensanche

This property is located on Calle Balmes, an area where tourist pressure and real estate pressure have especially had a strong impact for a long time.

The purchase of the building ends all speculation and gentrification processes that have occurred in the past to housing, protecting the rights of the 11 family units that live and making the remaining 12 available to the public park.

The sale has involved an investment of 8.3 million.

Two buildings in San Antonio

The buildings are located on the streets of Floridablanca and Comte Borrell and the investment of both amounts to 7.9 million. In the case of Floridablanca, a building with 18 homes and a store, the purchase has meant the short and long-term protection of the 17 family units.

As for the building on Carrer Comte Borrell, it is a farm with 12 homes and two premises, with nine empty floors.

Iberian Property logoIberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!