The spectacular Intempo building in Benidorm, the tallest residential construction in Europe, has already sold half of its 256 homes for sale, including the 2 most expensive flats, costing 2 million euros each. These 2 luxury apartments are located in the central part of the building, in the central "diamond", and the keys are due to be handed over in September 2021, pending receipt of the first occupancy licences, according to EFE.
InTempo is one of the symbols of the real estate crisis in Spain and is also one of the best examples of the brutal changes that the construction sector has undergone in recent years. InTempo Benidorm is a skyscraper that was designed in the heat of the upward cycle of Spanish real estate, then a project paralysed by the bankruptcy of the developer, before being sold to an investment fund as a half-finished building. Now in 2021, the complete refurbishment of the skyscraper will finally break the curse and bring the initial project back to life.
At 198 metres high (200.2 metres if the roof towers are added), InTempo is the tallest residential skyscraper built in Europe. Located on Benidorm's west beach, the building has undergone a full face lift to bring the properties up to date with current demand and recent Benidorm redevelopment. That was the decision taken by SVP Global fund, owner of the building since the end of 2017. InTempo's previous owner was Sareb when the project was acquired in 2012. Caixa Galicia granted to developer, Olga Urbana, a 108 million euro loan to build the residential building, but this developer went bankrupt in 2014 and left the project unfinished.
After taking over the asset for around 60 million euros, the SVP Global fund took a step forward with the project in the summer of 2018, when it began negotiating with the developer Uniq Residential to finish the building and complete the initial objective: to inaugurate the tallest residential skyscraper in Europe. Uniq is now responsable for promoting the InTempo Benidorm apartments for sale in 2021.
"In July 2018, the fund contacted Uniq Residential and presented us with this project. We prepared a proposal that was different from the existing one, with some modifications that the fund accepted, and we started work in September 2018. This is when we took control of the legal, technical and commercial aspects of the project," said Jorge Romagosa, project manager of InTempo in an interview with idealista/news. Romagosa also stated that the majority of buyers so far are Spanish nationals who wanted to invest in Benidorm and will rent out the apartments.
Half of the properties in the InTempo skyscraper are now sold, including the most expensive units which were on the market for 2 million euros each. But it's not too late if you want to get your hands on one of the InTempo apartments for sale. There are still a selection of homes available and according to the InTempo listing on idealista, the cheapest unit still for sale costs 263,000 euros (including parking space), has 75 m2, 2 bedrooms and a terrace, and is located on the fifth floor. There are also mid-priced 2-bedroom properties with 75-90 m2 for around 400,000 euros, located on the 25th floor of the skyscraper.
- Check out our full selection of brand new properties for sale in Benidorm
Benidorm's Intempo skyscraper to open this month: luxury apartments for sale
Have you ever dreamed of living in a skyscraper? Intempo Benidorm is counting down the days to completion. The tallest residential skyscraper Europe will be finished this July, 14 years after construction began. And this is also your chance to live in the Intempo Residential Sky Resort, a truly unique experience. These exclusive brand new apartments with 2, 3 and 4 bedrooms and terraces are now for sale. We have the all the details.