Lucas Fox International Properties has further expanded its presence in Spain with the opening of new offices in three major Spanish cities, strengthening the company’s position as market leader in Spain’s luxury property sector. Offices in Madrid, Valencia and Seville have recently been established in response to growing interest from international and national investors in these areas.
Over the last 12 months, the company has also seen the number of staff almost double due to the increasing number of enquiries from both buyers and sellers. Recent appointments include Jordi Puig, CBRE’s former Regional Director in Barcelona and Prime Residential Property National Director, who is heading up the Lucas Fox Commercial & Investment Property team in Barcelona as part of an ongoing strategy to further strengthen this division of the business.
Lucas Fox co-founder Alexander Vaughan comments:
“2014 has seen growing international confidence in the Spanish property market leading to a busy start of the year in our existing offices. Madrid, Valencia and Seville – along with Barcelona – are key markets for international investors and also have strong national markets. I have no doubt that these markets will be increasingly active over the years to come. Key hires in our commercial property team will further improve our ability to offer boutique commercial and investment property consultancy to the growing numbers of international private equity and institutional investors looking to buy in Spain.”
Madrid, Valencia and Seville – along with Barcelona – were singled out by fdi intelligence – a division of the Financial Times – as ‘European cities of the future’ for 2014/15. Commercial and prime residential real estate in Madrid, for example, can be bought at far lower prices than in other major European cities such as London or Paris.
Director of the Madrid office Rod Jamieson comments:
“It is an exciting time for Madrid. This vibrant European city that never sleeps offers an excellent quality of life, beautiful architecture and a wide choice of gastronomy, entertainment and luxury boutiques. Now a major international hub, Madrid is easily accessible from most international cities and thanks to the high speed train network the Mediterranean coast is just an hour-and-a-half away. We are seeing increasing numbers of investors turning to Madrid for investment opportunities with property prices down as much as 40% from 2007.”
Director of the Valencia office Juan Luis Herrero adds:
“We are very excited about being able to show off Valencia’s fantastic Mediterranean lifestyle and cultural attributes. Our new team in Valencia has a wealth of experience within the real estate sector and an in-depth understanding of the local property market. There are currently some very exciting investment opportunities here – including within the luxury sector. We are all expecting a busy time ahead”.
Lucas Fox now has 10 offices in Spain with further Lucas Fox Property Lounges planned to open early in the summer. These include a new flagship Property Lounge in the former Louis Vuitton store in Barcelona’s Turo Parc, as well as further openings in Calle Mayor in Sitges, in the Mallorcan capital Palma and on Ibiza.
May will also see the launch of a new Lucas Fox App for smartphones and tablets as well as the publication of the inaugural edition of the new Lucas Fox lifestyle magazine under the LFStyle brand.