Digital nomads are changing the landscape of the Spanish real estate market.

The emergence of digital nomads in major Spanish capitals , attracted by the good quality of life and lower costs than those found in other major European cities, is added to the surge in other international destinations, such as Thailand or Indonesia, in Asia, or as in the case of Mexico.

An increasingly established trend in times of digital transformation, in the post-pandemic era, that is contributing to changing the real estate landscape of the 21st century, with new ways of working and living, with the United States as the main source of this new nomadism , but also with a strong presence of European and Latin American citizens. Some studies estimate the number of digital nomads in Spain at around 100,000. And in some enclaves, up to a third of the demand for short- to medium-term rentals, with the consequent increase in "gentrification" (displacement of the original population by one with greater purchasing power). New residents who, in principle, accept higher prices than the local population.

Trends such as coliving and cohousing, and even student residences, are evolving in line with this global trend, in which shorter rental periods are on the rise, along with the services offered in these types of environments, from coworking (and networking) to gyms, rooftop relaxation, and more. These circumstances have been conveniently recognized by investors, who have increased their performance in this regard, as they seize the opportunity to capitalize on a model notable for its high turnover and higher returns than traditional rentals. And by the government, which, through the Secretary of State for Trade, regulates the activity, which ranges from obtaining a one-year visa to a residence permit (plus the European Union's own regulations for its member countries), to foster both innovation and contributions to the local economy.

"In recent years ," says Sandra Cabello, CEO and co-founder of Homeclub, " we've seen how major Spanish capitals, especially cities like Madrid, Barcelona, ​​Malaga, and Valencia, have established themselves as magnets for digital nomads from around the world. Attracted by the quality of life, cultural richness, and significantly lower costs than other major European cities, this profile has been gaining ground in the real estate landscape."

Europeans, North Americans, and Latin Americans are the majority in this regard, "who prefer to stay in well-connected neighborhoods with access to services and social life, and they especially value buildings with amenities such as coworking, gyms, and common areas, which make it easier for them to work and integrate into an active local community."

This new reality has driven the transformation of the real estate sector in Spain, opening the door to more innovative and flexible business models, such as flex living. "At Homeclub," Cabello adds, "we have opted for precisely this approach: we offer flexible mid-stay rentals (from 1 to 11 months) in strategic locations, combining professionalism and design with personalized services. Digital nomads are revitalizing entire neighborhoods, contributing to the renovation of the residential stock and generating a new social fabric. This demand is driving investment, product improvements, and new opportunities for owners, investors, and the city itself."

According to estimates from the consulting firm Think Remote and the study 'Nomad List', there are close to 40 million nomads worldwide, with 58% belonging to Generation Z and millennials. Data from the 'Global Digital Nomad Report' points to the predominance of tech and startup profiles, with incomes exceeding $50,000 a year... nomads, but with potential. So much so that Bruno Rabassa, CEO and founder of Berkshire Hathaway HomeServices Spain, points out how Spain is at the top of the list of destinations: "The digital nomad has gone from being an almost anecdotal type of consumer to a profile that must be taken into account in our luxury real estate market." In fact, Savills' 'Executive Nomad Index 2024' places Malaga as the first European capital in the ranking, third worldwide after Dubai and Abu Dhabi. And the increase in digital nomad couples is notable (although Homeclub figures indicate that 80% are single).

Factory, BeConfluence's Data Intelligence Unit, has also prepared a report on coliving, covering a universe of 691,999 people tracked, with 20,412,118 data points collected between January and December 2024 (through Google searches, social media, online activity, and websites visited). It mentions aspects to be taken into account by digital nomads, such as inquiries about privacy in kitchens, living rooms, or coworking spaces (29.4%), followed by cost compared to other options (28%), contract flexibility (26.3%), and quality of services (WiFi, maintenance, etc.).

More data to take into account : Guext Ready, specialists in vacation rental management, pointed out in a report last December that "the increase in digital nomads looking for stays in connected and culturally rich cities such as Barcelona and Madrid is evident." They also highlight, however, the regulatory imperative: "The regulation of tourist rentals continues to be a key issue, a regulatory divergence that generates different dynamics: in Barcelona, ​​a migration towards seasonal rentals; in Madrid, sustained growth in tourist rentals. In 2025, regulation is expected to continue to be a driver of change in the available offer."

In this context, Jorge Montero, CEO and Cofounder of Homming, highlights how "the profile of the digital nomad (qualified professional, with an average income of between €2,500 and €4,000 per month) has burst onto the Spanish real estate market, especially in cities such as Madrid, Barcelona, ​​Valencia, and Malaga. It is estimated that there are already more than 100,000 digital nomads temporarily residing in Spain, driven by good connectivity, the climate, and a cost of living up to 30% lower than in other European capitals."

This phenomenon is undoubtedly already impacting both the price of mid-stay rentals and the conversion of properties toward flexible models such as coliving or mid-term rentals. As Montero adds: "Latin American nationalities (especially Argentina, Colombia, and Mexico) stand out in terms of volume. In addition to putting pressure on certain residential areas, their consumption boosts the local economy: restaurants, leisure, coworking spaces, and transportation see an increase in the average ticket and recurring spending, with estimates putting the direct economic impact per person at more than €3,000 per month."

Benefits and economic footprint are also detected in the residential sector, as in the case of Livensa Living with its Livensa Living Studios option, located in Madrid, in Alcobendas (a city increasingly known for its concentration of technology companies), which joins those of Bilbao, Malaga, San Sebastian, and Valencia: "Many work on technology projects for telephony, remote legal consulting, marketing/advertising, and sports representation. Digital nomads opt for this type of accommodation because it allows for long, medium, or short-term stays, and they have the 'all-inclusive' concept, meaning they include all the various utility costs (water, electricity, Wi-Fi), use of meeting/coworking rooms, gym, pool, paddle tennis, at no additional cost."

An environment that alternates connection with disconnection, in a time of boom in the so-called 'living sector' and 'build to rent': "We also organize activities in which participation is voluntary and free (from sports and relaxation classes to cooking classes or motivational and informative workshops led by active professionals, under the umbrella of the Livensa Talent program)." Flexibility and added value to attract talent without borders.