Aedas Homes has closed its 2024–2025 fiscal year, ending in March, with a record-breaking commercial performance. The Spanish developer secured 3,275 build-to-sell pre-sales to individual buyers — a 50% increase compared to the previous fiscal year. These reservations represent an estimated €1.424 billion in future revenue, which will be recognized across several financial years.
This strong result was driven by both a higher volume of pre-sales and a slight increase in the average sale price per unit. Compared to the prior fiscal year, the value of reserved homes rose by 58%.
Last week, the company also reported significant progress in completed deliveries, reaching 5,211 housing units between April 2024 and March 2025 — nearly doubling the 2,938 units delivered in the same period the previous year. The surge is mainly attributed to the completion of affordable housing under the Plan Vive initiative from the Madrid regional government.
Of the 5,211 units delivered, 2,640 were private sales, up from 2,456 the year before. Additionally, 511 units were turnkey projects for institutional investors (build to rent), compared to 383 in fiscal 2023–2024. However, the standout factor this year was the delivery of 2,060 affordable rental units under Plan Vive I, distributed across 16 residential developments in seven municipalities. The consortium responsible for this project includes Avalon Properties (as investor partner), Sanjose (construction company), and Aedas Homes (project manager).
While audited financial statements for the 2024–2025 fiscal year are yet to be released, Aedas has indicated that its total annual revenue surpassed €1 billion — meeting projections for the second year in a row.
Market Resilience Drives Momentum
David Martínez, CEO of Aedas Homes, emphasized that these results “confirm the company’s leadership, growth, high potential, and business visibility,” while also highlighting the strength of the residential market. According to Martínez, demand for new-build homes in Spain remains “very robust and solvent.”
Other major developers have also reported strong performance in early 2025. Neinor Homes, another prominent Spanish homebuilder, achieved record pre-sales in the first quarter, reserving 670 units for private buyers between January and March. This marks an 86% year-over-year increase.
Neinor’s pre-sales for the quarter totaled €246 million, with an average unit price of €366,000 — up from €125 million in the same period last year, when the average price per unit was €347,000. For the entire 2024 year, Neinor recorded 2,649 gross sales (2,527 net), generating €840 million in total.
Metrovacesa, the other major publicly listed developer in Spain, also saw an uptick in pre-sales, which rose 12% in 2024. The company pre-sold 1,929 units for nearly €660 million during the year, ending with a total pre-sales portfolio of €1.2 billion on the books. Its average sale price per unit climbed 6% to €342,000.
These strong figures across the sector underscore the continued demand for new housing in Spain, as well as the resilience of the residential real estate market despite broader economic uncertainties.
