The luxury real estate agency Engel & Völkers has reached an agreement with Socimi Excem Capital Partners, specialized in the residential segment, to manage the rental of shared flats in large Spanish cities for young people, both students and professionals.

Excem Grupo has chosen the real estate agency that has more than 300 real estate consultants in the capital alone, to broker the properties most in demand by the Socimi de Excem: homes with a price of around 500,000 euros to renovate and located in the most central areas or near the main universities. In this sense, most of the operations have been carried out in Chamberí, Centro and Barrio Salamanca.

At present they already have 130 rooms spread over several floors in the most central neighborhoods of the capital. With an initial investment capacity of 12 million euros, which it expects to expand in the coming months, the objective is to capture 150 new properties.

Sharing housing is a growing trend among young people in the real estate sector. “The users of these properties are as demanding as the tenants of conventional properties and appreciate quality housing and attractive architecture,” says Paloma Pérez Bravo, director of Engel & Völkers Madrid.

For his part, Antonio Mochón, CEO of Excem SOCIMI RESIDENCIAL, highlights that they have positioned themselves with the development of their business model for young people above all in these directions: “for the professionalisation they have given in the rental sector, for their specialisation in this market niche, for being a reference in such a short time and, above all, because we understand our business project within the benefit of investors and customer excellence”.