Refurbished, or restored, housing options first appeared in Europe in the 1960s, above all in historical city centres. This activity has many perks, like for example incorporating advanced technology, decreasing the building’s environmental impact and increasing the energy efficiency of its façade, among others. In refurbishing the building, it’s not all about exterior aesthetics. Many other aspects also come into play, such as reinforcing existing structures and installations and improving accessibility. Another issue that is becoming increasingly important from the very beginning of a refurbishment project is making the building more sustainable. Using new renewable energy sources, more efficient installations and better insulation can help a whole community save on their power bills. Other issues like acoustic insulation also help make residents more comfortable.
As all of these processes are costly, the state offers individuals subsidies for buildings that comply with established requirements and have passed a preliminary technical inspection.
Nowadays, with a limited number of new housing options on offer, is very common to refurbish homes and, even, whole buildings. Apart from the outer appearance, refurbishment brings tangible value to buildings, giving them prestige, re-valorising them and making them much more attractive to renters. Buildings can be refurbished for many purposes, but the most profitable today are projects geared towards turning buildings into residential or office space, exclusively for rent.
And this is Quonia’s strategy, which instead of purchasing, demolishing and building again is committed to protecting and valorising the investor‘s efforts by preserving heritage and adding value by refurbishing the assets they manage. The value added can be seen in increased rental prices, which can even be double what owners got previously, and, therefore, in the opportunity to enter a more competitive market and target a higher income bracket.
