Warren Buffett will enter the real estate market in Spain
Berkshire Hathaway HomeServices, real estate mediation franchise network of the magnate Warren Buffett group, has landed in Spain to market luxury homes
The company enters the Spanish market in partnership with Larvia, real estate consultancy of the Petrus group, owned by the Rabassa family.
Under the alliance, Larvia will be renamed Berkshire Hathaway Larvia HomeServices and will address an expansion plan with which it expects to double the size it currently has in Madrid and Barcelona during 2020 and, subsequently, position itself in other “strategic markets” of the country.
Within the framework of this growth strategy, the new joint venture of the two companies will launch an “aggressive hiring campaign” to “attract the best real estate agents in the market”.
The president of the subsidiary of commercialization of houses of the group of Buffett, assures in an official notice that “Spain always has been a priority objective in the expansion of the signature since it is a strategic country of the commerce and the global tourism, and the objective of many European and Latin American customers. “
Berkshire Hathaway HomeServices lands in Spain after positioning itself in Berlin, London, Milan and Dubai over the last year and a half, also with local partners.
The real estate agency of the warrenBuffett corporation has 1,400 offices and some 50,000 agents distributed throughout the world that, in the financial year 2018, closed sales for 114,500 million dollars (101,780 million euros).
Buffett now joins the list of large funds and international investors who have positioned themselves in the Spanish real estate market, currently in full growth phase. In this sense, the CEO of Larvia stressed that currently the time is right to ally with the firm Buffett since the Spanish property market has recovered from the crisis and continues to grow. In addition, Spain continues to be one of the main European destinations, registering a high demand from investors from all parts of the world.