Spain Sotheby’s International Realty has taken a significant step in its expansion, consolidating its presence as the country’s premier luxury real estate firm.
The acquisition of the Barcelona and Costa Brava operations by Vivium and VIVA Sotheby’s International Realty marks a pivotal moment, uniting operations under the prestigious Spain Sotheby’s International Realty brand.
Paloma Pérez Bravo, Chief Executive of Spain Sotheby’s International Realty, emphasised the strategic importance of this move.
He says: “This new phase is a natural step in our brand’s evolution, strengthening our position in Spain and our leadership in the luxury real estate market.”
PREMIUM SERVICES
And she adds: We will focus on the top segment, which represents 15% of the total market, with projected transactions amounting to approximately €1.9 billion.
“We will achieve this while upholding our commitment to offering premium real estate services that reflect the values and prestige of Sotheby’s International Realty worldwide.”
As part of its ambitious growth strategy, Spain Sotheby’s International Realty aims to secure a 10% market share, translating to €1.9 billion in transaction volume.
To achieve this, the company is expanding its external network with top-tier agents specialising in key regions and plans to establish 22 strategically located offices across Spain, including Madrid, Barcelona, Costa del Sol, Costa Brava, the Balearic Islands, the Canary Islands, and the Basque Country.
POSITIVE OUTLOOK
The luxury real estate market in Spain continues its upward trajectory. According to the 2023 Hiscox report, luxury home transactions have doubled in five years, now accounting for 5% of the total real estate market.
Elie Khouri, founder of Vivium, says: “Our growth prospects in the Spanish market are highly optimistic.
“Sotheby’s International Realty’s strategy in Spain has focused on expanding and strengthening our presence across the country.
“This centralization enhances relationships with our international network, facilitating access to global clients and improving our ability to market exclusive properties more effectively.
“As a result, we are well-positioned to cater to High-Net-Worth Individuals, an overlooked segment in Spain.”
TOP LOCATIONS
Currently, Spain Sotheby’s International Realty operates 14 offices, with new additions in Barcelona, Sitges, Platja d’Aro, and Begur complementing its existing locations in Madrid, Palma de Mallorca, Puerto d’Andratx, Alicante, Ibiza, Formentera, Menorca, Marbella and Seville.
Reinforcing its presence in Madrid, the company has recently inaugurated a new headquarters on Lagasca Street in the prestigious Salamanca neighborhood and an office in La Moraleja, a prime location for serving the city’s discerning luxury market.
Further expansion in southern Spain includes the imminent launch of a flagship store in Marbella, housed in an exclusive two-story space on Avenida Bulevar Príncipe Alfonso de Hohenlohe, alongside a new office in Puerto de Santa María, Cádiz.
