Investor Toolbox

Project Overview

Number of Units

Average Unit Selling Price (net)

Construction Budget (Total)

Average Unit Size (m²)

Construction Cost per m²

—

Calculated from total budget

Cost Assumptions

Land / Site Acquisition Cost

Soft Costs (% of construction)

Architect, permits, legal, project management

Contingency (% of construction)

Total Buildable Area

—

Financing

Bank Requirement: Spanish banks typically require 50% of units to be pre-sold before releasing construction funds.

Construction Loan LTC (%)

Loan-to-Cost: Based on Total Development Cost

Loan Interest Rate (% p.a.)

Current Spanish developer loan rates: Euribor 12-M trailing + 2,5%

Loan Arrangement Fee (% of loan)

Línea de Avales Cost (Total)

Construction Period (months)

Interest calculated on monthly drawdowns. Loan drawn as construction progresses.

Sales & Exit

Sell-Out Period (months)

Units sold progressively, not all at project end

Sales Commission (%)

Includes VAT (21%)

Legal & Marketing Costs (%)

Includes VAT (21%)

Capital Gains Tax Rate (%)

Apply 10% price increase after 50% sold

Standard practice: Increase prices as project sells out

Development Returns

Gross Development Value (GDV)—

Total Development Cost (TDC)—

Total Equity Required—

Total Loan Required—

Total Interest Cost—

Línea de Avales Cost—

Total Sales Costs (VAT incl)—

Gross Profit—

Net Profit After Tax—

Profit on Cost (PoC)—

Equity Multiple—

Developer's IRR—

GDV / TDC Ratio—

Project Overview

Property Selling Price (net)

Construction Budget (Total)

Total Buildable Area (m²)

Land / Plot Cost

Construction Cost per m²

—

Calculated from total budget

Cost Assumptions

Soft Costs (% of construction)

Architect, permits, legal, project management

Contingency (% of construction)

Financing & Timeline

Construction Loan LTC (%)

Loan Interest Rate (% p.a.)

Loan Arrangement Fee (% of loan)

Construction Period (months)

Sales & Exit

Sell-Out Period (months)

Sales Commission (%)

Includes VAT (21%)

Legal & Marketing Costs (%)

Includes VAT (21%)

Capital Gains Tax Rate (%)

Development Returns

Gross Development Value (GDV)—

Total Development Cost (TDC)—

Total Equity Required—

Total Loan Required—

Total Interest Cost—

Total Sales Costs (VAT incl)—

Gross Profit—

Net Profit After Tax—

Profit on Cost (PoC)—

Equity Multiple—

Developer's IRR—

GDV / TDC Ratio—