Although it is on the rise, real estate recycling is nothing new. It emerged in the middle of the last century , when the post-war effects meant the closure of businesses and industries and housing was scarce. The real estate market saw in these buildings the opportunity to transform them into houses and flats, thus giving them a new use.
Nowadays, there are other reasons that are promoting the unstoppable takeoff of real estate recycling. On the one hand, the lack of developable land in large cities. On the other, the desire of a sector of the population with a high purchasing power to live in unique, spacious and exclusive buildings.
What is real estate recycling?
Talking about real estate recycling is talking about a second life for buildings or constructions that were not designed for residential purposes . It can be old churches, industrial buildings, garages, commercial premises, farms or mills. This “redevelopment” allows them to be transformed into luxury homes , unique apartments or even hotel accommodation.
This search for the singular and this desire to design different homes has given the definitive impetus to real estate recycling, which today can be seen not only in urban spaces and large cities. You can also see magnificent examples in rural areas that, in some way, are being reborn thanks to this trend.
Advantages of real estate recycling
The commitment to real estate recycling goes far beyond a simple search for exclusivity for a home or tourist accommodation, although this is one of its main reasons for being. Those industrial or religious buildings that are transformed, allow the creation of extraordinary spaces in which light and spaciousness give the possibility of making all kinds of interior designs a reality.
Beyond that customization down to the last detail, real estate recycling, like any other type of recycling, has a positive environmental impact . On the one hand, avoiding construction or demolition works means reducing the carbon footprint. And, on the other hand, you save on raw materials.
For cities or areas that are committed to real estate recycling, there are also benefits. This trend makes it possible to preserve sometimes very unique buildings that would otherwise be doomed to ruin and disappearance. In addition, it helps to revitalize spaces that have fallen into disuse, attracting a young population with a good purchasing power and who are looking for urban areas with their own spirit.
And, in rural areas, real estate recycling has two positive consequences. The first of these is economic revitalization , thanks to tourist establishments characterized by a special charm and which are increasingly in demand. The second is that this revitalization contributes to attract new population to areas that had been practically uninhabited.
The challenges of real estate recycling
Despite all the advantages offered by this trend towards real estate recycling, for the transformation of a property it is necessary to overcome some difficulties. The main one comes from the hand of the change of qualification and the essential legal procedures to achieve it.
These procedures go through the realization of a technical project . But the approval of the local administration will only be achieved if the population density established by the ordinances has not been exhausted in the area and all the provisions of these regarding habitability conditions are complied with.
For this reason, before starting a real estate recycling project, it is advisable to first consult the conditions in the corresponding Town Hall. If there is no problem, the necessary works for the transformation can be carried out, a new deed can be granted with the change of use and the corresponding alteration of the cadastral data can be processed.
And it is still necessary to take into account another essential aspect: the real estate recycling can suppose a high cost . The adequacy of the buildings, on occasions, supposes a greater investment than the acquisition of the building. However, those who bet on it know that it is the price that must be paid for the exclusivity and luxury of enjoying a unique home.