Berkshire Hathaway HomeServices is the high-end real estate firm, with a specialist focus on providing guidance and facilitating the sale of exclusive properties in the most prestigious of exclusive properties in the most prestigious locations in Spain. We interviewed its CEO, Bruno Rabassa.
What is your view on the prospects and current situation of the luxury market in Spain?
The luxury real estate market in Spain continues to show its great strength, evolving positively year after year, facing both challenges and opportunities for its future development. It is a very dynamic market segment with a behaviour that differs from that of the general real estate sector, which tends to be more cyclical and is subject to a greater extent to the influence of the social, political and economic context. The more stable activity shown by the current market situation is driven by the continued strong interest shown by the foreign client. To give an example, according to data from the Real Estate Register Yearbook, around 15% of property sales and purchases last year were made by international buyers, consolidating a trend that we are witnessing in our network of offices.
That said, what is the outlook? My prognosis for the sector is positive, with encouraging growth forecasts. Although, as I say, the future of the sector is optimistic, we cannot ignore the shortage of supply, which we are already seeing in the new-build residential segment, and which could lead to price increases. Despite this, the luxury buyer, less sensitive to economic fluctuations, continues to prioritise the purchase of and investment in properties that meet standards of exclusivity, high quality, sustainability and a focus on homes with unique features or with a variety of high-end services. Spain is one of the most attractive destinations in Europe for luxury real estate investment and enjoys a very healthy buyer demand. It is a sector with great growth potential, driven by strong international demand from European, Latin American and, more recently, US clients. As such, the sector continues to attract the attention of investors looking for properties in which to grow both personally and professionally in unique environments, consolidating our country as one of the preferred luxury destinations.
Spain is one of the most attractive destinations in Europe for luxury real estate investment and enjoys a very healthy buyer demand. and enjoys a very healthy buyer demand.
Bruno RabassaCEO en Berkshire Hathaway HomeServices Spain
