Italian company Joivy, specializing in comprehensive accommodation solutions, is aiming for significant expansion in Spain. Over the next year, the platform plans to increase the number of managed apartments to more than 1,000, covering not only Madrid but also other major cities across the country. This ambitious move is driven by growing demand for flexible housing formats suitable for students and retirees, as well as travelers and business guests.
Joivy has already established itself as one of the leading players in the European coliving and microliving market. The company’s portfolio includes more than 4,000 properties in 50 cities across six countries. In Spain, about 500 units are currently operational, with another 300 in the pipeline in a new complex located in the Valdebebas area of Madrid. Company management is confident that by 2026, this number will exceed one thousand, and its projects will extend beyond the capital.
New formats
In June 2025, Joivy opened a new property in Madrid — Pacífico Suites. This modern building, fully converted from a former industrial site, now offers 21 apartments for short- and medium-term stays. Most units are studios featuring a private kitchen, bathroom, and double bed. Two apartments also include a separate living area.
Pacífico Suites caters to both tourists and corporate clients seeking comfortable accommodation for several days or weeks. In its first months of operation, the property reached an impressive occupancy rate of over 90%. This result confirms the relevance of the flex living format, which is increasingly in demand among tenants looking for alternatives to traditional hotels and long-term rentals.
Growth strategy
Joivy is not limited to Madrid. The company plans to expand into other Spanish cities where demand for modern housing solutions is high. In Europe, the platform is already established in Italy (16 cities), France, Portugal (Lisbon), as well as in the United Kingdom and Scotland. Joivy’s total portfolio in Europe exceeds 13,000 housing units, making it one of the largest networks in its segment.
The average cost of renting a Joivy apartment in Spain is about 180 euros per night. This price range targets clients who value comfort, flexibility, and modern service standards. The company actively invests in developing new properties, with a strong focus on infrastructure quality and convenience for various categories of residents.
For all ages
One of Joivy’s key features is the versatility of its offerings. The platform develops products for students, young professionals, families, and seniors. Its portfolio includes coliving, microliving, student residences, coworking spaces, and apartment buildings. This approach allows the company to reach a broad audience and quickly respond to market changes.
In Spain, the company launched operations in 2020, initially focusing on coliving before expanding into tourist apartments and the flex living format. Management emphasizes that flexibility and adapting to client needs are the main drivers of success in the local market.
Investment and prospects
Joivy continues to actively invest in the Spanish market despite high competition and a challenging economic environment. The company bets on innovative housing formats that allow it to quickly respond to changing tenant demands. In the coming years, new properties are expected to appear not only in Madrid, but also in other regions of the country.
Real estate market experts note that projects like these contribute to urban infrastructure development and make Spanish cities more attractive to foreign investors and tourists. Joivy aims to secure its position as one of the key players in the flexible housing market in Europe.
If you didn’t know, Joivy is a European platform that brings together coliving, microliving, student residences, coworking spaces, and apartment buildings. The company manages over 13,000 residential units across six countries, including Spain, Italy, France, Portugal, the United Kingdom, and Scotland. In Spain, Joivy has been actively expanding since 2020, offering solutions for short-term, medium-term, and long-term stays. The director for the Iberian Peninsula is Davide Ravalli.
