A new housing format comes to Asturias
Madridity has announced an investment of €6.5 million to acquire and fully renovate a 2,335-square-meter building in a prestigious residential neighborhood of Oviedo. The property is located opposite the Auditorio Príncipe Felipe, highlighting its prime location. This move is part of the company’s strategy to expand its real estate presence beyond the capital.
Flexible solutions for modern renters
After the renovation, the building will offer 40 fully furnished studios and apartments designed for medium-term stays. Future residents will have access not only to modern apartments but also a range of shared amenities: coworking space, gym, social area, meeting rooms, and terraces. This concept is aimed at postgraduate students, young doctors, and professionals who work remotely or are in the city on business trips.
Growing demand and a strategic choice
Oviedo is experiencing steady population growth and is recognized as one of Spain’s key medical training hubs thanks to the MIR Academy. This ensures a constant demand for medium-term rental housing. The new project by Madridity is designed to meet the needs of this audience, offering flexible terms and modern services.
Portfolio expansion and future plans
With the launch of this property, the company is strengthening its position in Asturias, where it already manages a building in Oviedo. Overall, Madridity’s portfolio consists of six properties, five of which are already operational in Madrid, Seville, and Oviedo. The new project will expand the existing portfolio once construction and design work are completed in the coming months.
Integrated property management approach
Since its founding in 2022, Madridity has pursued a diversification strategy both geographically and across property types. Over the past year, the company has invested around 20 million euros in properties in Madrid and Seville, and is now actively expanding into promising secondary markets. The entire process—from identifying buildings to operating them—is handled in-house, allowing the company to streamline operations and offer turnkey solutions to investors.
Focus on sustainable returns
In the near future, the company plans to further expand its portfolio by acquiring properties in different districts of Madrid and other high-potential cities. Oviedo and Seville have been identified as key targets, combining a stable rental market with opportunities to develop new formats such as flex living. This approach allows the company to combine the advantages of long-term rentals with the returns typical of tourist and hybrid accommodation.
