Europe city focus on Malaga and Madrid as Spain’s Neinor helps explain dominant trends in two of its markets

PropertyEU has visited Malaga and Madrid, two Spanish cities seemingly in the ascendency in Europe as we continue the magazine’s City Focus series.

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Malaga

This is the follow up to Birmingham as PropertyEU left the UK’s second second city for Spain’s capital and the coast.

The story of these two cities is partly told through the lens of Neinor, the Spanish property development company heavily into the Living sector, which has recently added senior retirement to its build-for-sale and build-to-rent business lines.

Our guide from Neinor took us from the impressive new Miami-style luxury residential towers hugging Malaga’s beachfront to much further into the city before sweeping along the coast towards Marbella. In the second leg of the City tour, we visited Madrid where we reached a build-out northern zone providng new dwellings for people in Madrid. But that is just one of many locations in Madrid where projects are progressing as the city engages in its usual tussle with rival Barcelona.

Subscribers can read the report in the latest magazine and via a PDF below.

The conclusion is that both Madrid and Malaga require more homes despite being very different cities. There are the usual gripes from the property industry over the length of time it takes to get licences to develop, and the availability of land. However, this is a Spain very altered for the better since the nation’s economic crisis, and progess is being made against an economic background more favourable than most of Europe.

In addition to the tour of Malaga and Madrid, the report contains an interview with Neinor CIO, Mario Lapiedra Vivanco, as he explains from the company's offie in Madrid why the firm is pursuing a new ‘equity-efficient’ growth plan, building upon JVs already struck with the likes of AXA IM Alts.

The listed company, whose shareholders include Orion Capital Managers and Stoneshield, has been busy attracting investment partners as it pursues further development without having to rely solely on its balance sheet.

Watch out for the next in the City series – Leipzig.