The Spanish secondary real estate market continues to grow. According to INE data, over the past year, this type of housing accounted for 80% of purchase and sale transactions across the country. Thus, in 2021, 428,066 houses in the country changed their owners.
However, many of these properties are in poor condition. According to information provided by the Supreme Council of the Colleges of Architects of Spain (CSCAE), more than 10 million Spanish houses need major or cosmetic repairs. Idealista portal notes that the price of dilapidated real estate is reduced by an average of 25%.
In the last few years, the Spanish real estate market has thrived with an investment strategy, in which an investor buys a residential property at a reduced cost, repairs it, and resells it at a higher price. This strategy is called flipping house.
This investment model has long been strengthened in the USA. According to experts, it threatens the traditional scheme of real estate activity based on commissions. For this reason, many real estate companies are taking actions that hinder the promotion of the flipping house concept in the real estate sector.
At the national level, flipping house is still a new trend, although there is an example of a company with principles based on this model. The Viflip organization, according to its leaders, has become "the only alternative to unscrupulous real estate agencies."
The Viflip company, founded in Madrid at the height of the pandemic, is designed to revolutionize the real estate market. It specializes in restoring houses that are in a state of increased wear and tear, which makes it difficult to sell them and reduces the cost.
Thanks to a team of designers and architects, the company can reconstruct real estate within 8-16 months. The results show that its clients can sell their homes for 15%-30% more expensive.
"This company was created to revolutionize the real estate market throughout Spain," Viflip representatives say. In the first months of its work, it helped over 60 clients renovate their residential properties, and increase their price.
The success of this company resulted from the introduction of a revolutionary business model that breaks traditional schemes and is a new and unique alternative to conventional models. Viflip is responsible for financing all expenses related to its activities and offers a concept that brings some benefits to homeowners.