In order to carry out these projects, the group specialised in co-living should spend 1.000 million euro, announced the person in charge of its expansion in the Iberian Peninsula, Nickolas James during Lisbon’s Urban Renewal Week.
«We want to become the WeWork of co-living in the coming years. Iberia is another important step on this journey», says Medici Living founder and CEO Gunther Schmidt.
The lack of co-living offer in these two countries led, according to Gunther Schmidt, Medici Living to bet on this sector. «Home prices in both Spain and Portugal have been rising steadily in major cities over the past years, so that affordable housing for young professionals has become scarce», explained Gunther Schmidt.
For 2023, Medici Living – which operates in cities such as Chicago, New York and Berlin – has well defined plans: it should add 7.300 rooms to its portfolio, which currently has 1.800, according to the same document