Flexible renting, or “Flex Living,” is quickly transforming Spain’s residential real estate landscape. This innovative model, which combines furnished homes and unified expenses for short- and medium-term stays, has become especially attractive for digital nomads, students, young professionals, and business executives seeking temporary accommodation.

In 2024, Flex Living generated €314 million, and the number of beds available is on track to double soon, soaring past the current 19,089 as demand and profitability continue to climb. Foreign investors have dominated the sector so far, but Spanish funds and developers are increasingly taking interest thanks to high returns.

Leading operators like Be Casa (21% market share), Livensa Living (10%), Cotown (8%), Smart Rental (7%), and Node Living (7%) together make up 53% of Flex Living accommodations in Spain. Meanwhile, new players such as The Flexy Living, Calido, and Kora are planning to boost capacity with thousands of new beds.

Top investors include Greystar (4,500 beds), CPPIB (1,850), Patron Capital (1,500), and Spanish firms like Stoneshield (4,300), Kategora (2,000), Dazia Capital with Aermont (2,000), and Twinpeaks (1,200 planned).

Madrid remains Spain’s Flex Living hub, with 60% of all national offerings and 72% of all beds under construction. Other leading cities include Barcelona and Valencia, while Malaga, Seville, Guipúzcoa, Pamplona, and Alicante are quickly joining the trend.

As demand for flexible lifestyles and mobility grows, Flex Living is set to redefine urban rental markets across Spain, making it a sector to watch for tenants and investors alike.