IN many cases, it pays to spend a bit of money on home improvement.
A property located in the center of Madrid has increased in value by almost €200,000 following the renovation work carried out by the company Designblob.
It was bought for €776,000, but after spending €52,635 on its renovation – which took five months – the owner now enjoys a home that has appreciated in value by €193,800.
If he wished to sell the house today, he could do so for more than €900,000.
The flat, located in the Salamanca neighborhood, has an estimated price of €923,800, a rise of €147.800.
“The property of 137 square meters has a terrace, three bedrooms, two bathrooms and lots of light”, explains Spain’s leading sales and rental online platform Idealista.
In addition, the owner has managed to reduce energy consumption by 40% – €370 a year in savings – after changing the windows, insulating the walls and switching to LED lighting.
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