Investors are increasingly drawn to historic buildings in major Spanish cities, with Madrid seeing over $841 million invested in their purchase and renovation last year. These properties often retain classical architecture and are adapted for modern uses, like hotels or private homes. Experts indicate that while international investors are diversifying the market, local investors will continue leading transactions. The push to rehabilitate historic sites balances preservation with the need for income generation, allowing for their transformation into cultural spaces or tourist accommodations.
"The rehabilitation of historic buildings has become one of the main investment options, focusing on preserving architectural heritage while incorporating modern amenities," says Narcis Casteyo, highlighting the dual goal of investment.
Maria Mayoral from CBRE notes, "These are generally listed buildings of classical architecture with representative facades and entrances that are being renovated for another use," underlining the trend in urban investment.
Sonia Lara states, "The interest in restoring historic houses lies in preservation, while seeking a source of income to facilitate their maintenance, whether as a museum, cultural space, or tourist accommodation," emphasizing the financial aspect of conservation.
Lancois Doval predicts that in 2025, the investment segment will be characterized by a diversity of international investors, although domestic players will maintain a significant presence in unique asset transactions.
#historic-properties #real-estate-investment #urban-development #cultural-preservation #investor-trends
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