During the recent recession, many people in Spain (and the world over) found themselves having to move from their own neighbourhood to less well-developed areas. One such area was Lavapiés, in Madrid. Despite its central location it was largely under-developed at the time, but things are starting to change.
In the last few years, the exodus from the more expensive parts of the city to Lavapiés has resulted in it becoming a young, trendy neighbourhood. However there is still a need for new housing solutions and real estate developer, EnfoKa, is hoping to fill the gap with their micro-rentals.
The micro-homes are typically 400 square feet (37 square meters) in size, but it’s not uncommon for them to be as small as 200 square feet (18.5 square meters). According to EnfoKa, this isn’t by design but a result of the historically small dwellings in Madrid City Centre.
They make use of multifunctional and modular furniture pieces to create flexible living spaces for their tenants. The homes are usually a mix of old and new, with rustic elements, like 300 year old timber joists on show. From EnfoKa’s owners: “We are very focused on making these small spaces attractive and comfortable. Our architects and interior designers try to include visible/hidden spaces, heights, textures… to give the impression of greater dimensions.”
Their attention to detail seems to be working, according to the company all of the apartments are rented. Rent costs $600-$800 per month, that’s 30-40% more than other comparable properties, but not an extortionate amount given the location and quality of finish.