Savills has announced the launch of a residential business in Barcelona covering the sales and lettings markets in the city and surrounding areas.
Pablo Balea Vicente, who joins Savills with 10 years’ experience in the Barcelona market, will lead the team which currently comprises 12 brokers.
The launch of Savills residential is part of the firm’s European residential expansion and follows the launch of Savills residential businesses in Germany, Portugal and Italy.
Justin Marking, head of global residential at the agency, comments: “Our strategic aim is to capitalise on Savills residential expertise throughout Europe by establishing our own offices in the key centres, such as Barcelona. Within the last 12 months, Savills has established offices in Lisbon, Porto, Rome, Milan and Palermo, with more in the pipeline.”
According to Savills research, prime residential capital values in Barcelona grew by 3.0 per cent in the 12 month to June 2023, above the global World City average of 1.9 per cent, yet remains low by global standards with prices 8.0 per cent below Madrid, 42 per cent below Berlin and 65 per cent below London.
Savills has operated in Barcelona since 1989 and is the only major multi-national consultancy offering a full spectrum of real estate services in the Catalan capital.
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