Valencian family office buys serviced apartments in Seville for €6M

Valencian family office buys serviced apartments in Seville for €6M

A Valencian family office has invested six million euros in the purchase from a local investor of a tourist flat property at number 24 Calle Calatrava, in the centre of Seville, according to EjePrime.

The operation, advised by Tenigla Real Estate, involves the transaction of a recently refurbished property with 24 units and a constructed area of 1,485 square metres. The building, operated by Sercotel, has three floors, with an outdoor rooftop swimming pool, and is located just a few minutes' walk from the Cathedral, the Palacio de las Dueñas and the Plaza de Toros.

This sale and purchase comes at a time when tourist and short and medium stay flats are attracting greater investor attention following the passing of the Housing Law, as these residential products are outside the scope of the regulations, meaning that they do not have to comply with the established price cap, which boosts their profitability.

According to the latest data published by the National Statistics Institute (INE), the province of Seville had 6,152 tourist flats (26,997 beds) in February, which is 11% more than in the same month of the previous year.

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