Asset thesis ยท 5 min read
The Dormant Building Problem: Why Empty Properties Are Tomorrow's Best Assets
Empty villas, fincas, monasteries, and rural houses are sitting on more upside than almost any other real estate category. If the owner can resist the urge to do the obvious thing.
Almost every week, I get the same message. A version of: "I own a building. It is beautiful. It is empty. I do not know what to do with it."
The building is usually in a place you would actually want to be. The Spanish countryside. The Balearics. The south of France. A pocket of the UK that has quietly become interesting again. Sometimes a country house. Sometimes a stone finca. Sometimes a converted monastery that has been sitting unloved for a decade.
These properties are the most interesting hospitality asset class of the next ten years. The owners almost always misuse them.