Over the last two years, our investors' most frequent request has changed: they no longer ask for flats to rent, they ask for whole buildings. The numbers explain the shift.
The arithmetic of the building
A renovatable stately building in central Valencia can be bought today at a price per square metre lower than the individual units on the same street. Unified management, full control of the asset and the upside of refurbishment do the rest.
Real scarcity
Very few come to market, and almost none get published: the owning families prefer discreet deals. Of the last six buildings we've brokered, five sold without a public listing.
In heritage assets, access is worth more than capital.
For the investor, the conclusion is uncomfortable but useful: the opportunity isn't on the portals. It's in the network of whoever knows the owning families.