Barcelona City Council buys 20 homes for social renting for €4M

Barcelona City Council buys 20 homes for social renting for €4M
Carrer de l'Hospital, Barcelona

Barcelona City Council's Governing Committee has approved the acquisition of two buildings with a total of 20 flats in the Eixample and Ciutat Vella districts for social renting. The investment, including the cost of refurbishment, is around 4.6 million euros.

The l'Eixample asset, which is located on Carrer del Consell de Cent, has 11 homes. All the units are currently occupied by families living in rented accommodation. The total purchase and sale price is around 1.9 million euros, to which must be added just over half a million euros for the refurbishment of the building.

On the other hand, in Ciutat Vella, Barcelona City Council has bought a building with nine flats from the Blackstone fund. Specifically, the asset is located in Carrer de l'Hospital, in the Raval neighbourhood. Four of the units are already occupied by families in vulnerable situations, while the other five flats are empty and will be used for the town's social rental stock. In this case, the purchase price is 2.1 million euros, to which must be added almost 150,000 euros for the necessary refurbishment work.

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