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Home Club Capitalizes on Flex Living Momentum and Projects 39% Growth by 2023

In a context marked by the growing interest in the flexible lifestyle, Home Club, the Madrid-based operator of short- and medium-stay rental apartments, anticipates a 39% increase in its rental revenues by 2023, reaching €34 million. This projection was revealed by Daniel Hermoso, president and co-founder of the company, to EjePrime.

 

Home Club currently manages a portfolio of 1,029 units distributed in different cities, with Madrid (926), Barcelona (77), Valencia (11), Malaga (9) and Ibiza (6) being the main locations. In addition to continuing its expansion in the cities where it already has a presence, the company plans to enter the Miami and Mexico City markets in the short term, in collaboration with its Latin American partners with whom it already collaborates in Madrid. It is also exploring opportunities in the Mallorca market for possible entry in the coming months.

 

Home Club is positioned in the premium residential flex segment, with an average rental ticket of 3,400 euros. The average stay of the occupants, according to the company, is four and a half months, achieving an occupancy rate of 92%, with certain markets, such as Madrid, with a demand that exceeds the available supply. With a goal of managing 5,000 units by 2025, the company has experienced a significant shift in its segment following the pandemic, with more people opting to move to Spanish cities in search of a better quality of life.

 

Daniel Hermoso highlights that Madrid is a key location for the Latin American customer, while Barcelona attracts a more international audience. The company has carried out its latest opening in the Catalan capital, with the addition of the Ribera building, located in the El Born neighborhood, which has nine apartments and a private rooftop, bringing the total number of apartments under management in Barcelona to more than seventy.

 

"We want to expand in Barcelona, a challenging location but with considerable room for growth, especially with the advancement of the Housing Law, which has led landlords to shift their focus from long-term rental to medium-term, giving us more opportunities to incorporate new supply," highlights Hermoso.

 

The apartments in Home Club's portfolio belong to private owners (42%), family offices (26%) and institutional owners (32%). Hermoso adds that the reasons owners choose Home Club include higher profitability, 30% higher than traditional rentals, as well as greater flexibility, lower default risk and better asset management.