Flexible living attacks Valencia: 1,100 places available and 882 more in progress.

VALENCIA. The housing problem has contributed to the introduction of new accommodation formulas in the Spanish housing market, which are gradually gaining momentum. Thus, co-living – renting apartments in a community, flexible living – flexible rental of apartments – or build to rent – new construction for rent – are starting to make noise, attracting investment and being an alternative housing that is growing in the world. Real estate. It is true that they are still in their infancy, but in some cities, such as Valencia, they are picking up speed thanks to new consumer habits and ease of labor mobility. This consolidates Spain as the third European country with the most places by assets. flexible lifestyle and Cap i Casal is positioned as the third location in Spain with the largest number of offers.

In particular, flexible lifestyle Its characteristic is the combination of short-term, medium-term and long-term living in the same asset and always in accordance with the concept of community living. This way the user has a private zone and public zones. Generally, this type of development is being promoted on tertiary land and tends to be high-volume developments that combine different formats, such as dedicating one part to student accommodation and reserving another for an apart-hotel. And all this is within the framework of the concept of flexibility, hence its name.

Experts say its growth is responding to growing demand in communities where access to housing is becoming increasingly difficult and there is a shortage of updated products. But also to the possibilities of geographic mobility for work, which has led to cities such as Valencia accepting many laid-off professionals or digital nomads who need housing for a certain period of time. Many of them are looking to live in a community to meet people and don’t want to be tied to the rigidities of a traditional rental agreement. Consequently, this segment will be consolidated in Spain in the coming years.

According to a report by international real estate consultancy JLL, the real estate sector flexible lifestyle Spain has experienced dynamic growth in recent years and since 2019, the sector has accumulated more than 560 million investments, of which 140 million were made in 2023. Additionally, there are over 21,000 transactional locations in the portfolio. between funds of institutional initiatives underway or already implemented. The consultancy firm therefore predicts that Spain will cement itself as the third European country with the most job vacancies in 2026, behind only France and the UK.

And in this context, Valencia is among the “top 3” Spanish places with the highest supply and volume of completed and ongoing projects. In particular, it has over 1,100 spaces available, divided into nine projects, and in the coming years some 882 new apartments will be added to the Valencian market in seven complexes that are currently in different stages of development.

The bulk of the projects already built in the capital Turia are located on the seafront, in the Poblats Maritims area, although there is also a strong presence in Zaidia. And most of those assets are going into the hands of investors who are betting on new developments in urban areas, with large common areas and projects with more than 150 beds in most cases.

One of players

most active in the capital Turia Livensa Living, with two spaces that add up 650 beds. Its goal now is to enter Alicante and double its capacity in the Valencian Community with 1,200 units in 2028. The firm recently opened its second flexible premises at Cap-i-Casal, with 254 beds, aimed at young professionals. , digital nomads and university students.

However, there are currently excellent initiatives underway such as Atitlan, What As part of this method, it is promoting two large complexes on Tarongers Avenue, opposite the Los Naranjos Mortuary. One of them, land they bought from Corestate, will have a capacity of 250 units and begin construction in 2024. In a year, that is, in 2025, the development of another tablet will begin, which the company bought in 2022, and the construction company is involved in this Bexa. There will be 350 seats in this project and a percentage will also be reserved for HPEs. Both operations together amount to an investment of 60 million euros.

Also Basque Company Category has landed in Valencia with a “flexible” complex of 316 rooms in the El Cabanyal area and an investment of 36 million euros. The property will be divided into two blocks: one five-story, the other three-story. The first will be accessed via Arquitecto Alfaro and the second via Ernest Anastasio, and from both you can access the central garden designed by the Vizcaya developer. Its opening, according to the company’s plans, is scheduled for 2025.

Today, however, Madrid is the city where most of the supply is concentrated, with more than 6,000 beds available and around 16,000 in development. Barcelona follows with more than 2,200 beds, and approximately 2,600 new beds will be added in the coming years, which are currently in various stages of construction. Next will be Valencia and Gipuzkoa, in fourth and fifth places, with 646 existing places and 693 planned; and Malaga: 451 projects have already been developed and 636 are under development.

Main market operators

As for the sector participants, it stands out Gray Star, Stone Shield, with its brand The Flexy Living, Bain Capital or Kora LivingCategory operator, which is developing assets throughout the peninsula and will operate approximately 1,700 beds in the next 3 years.

Other players with projects in development are smart Rental group, which operates for third parties and has almost 1,500 beds of various types. Also Flipco, Livensa Studios, Cotown or “joint venture” between Dasia and Aermont other well-known companies.

“ANDIn Spain we are faced with the problem of a shortage of beds, both for rent and for sale. He flexible lifestyle This is emerging as a solution to mitigate the existing imbalance between supply and demand, especially in regions where price pressures are stronger. “It’s here to stay,” he notes. Juan Manuel Pardo Residential Director at JLL Spain. He therefore predicts high transaction activity in this segment, in which Valencia will be one of the leading locations.