Property pursuit: American property giant Berkshire Hathaway announces expansion in Spain

AMERICAN business magnate Warren Buffet has set his sights on Spain’s booming property market and shows no sign of stopping.

Berkshire Hathaway Home Services, Buffett’s luxury property firm, recently expanded its presence in Spain with a second office in Malaga. The property company announced plans to continue growing by targeting the Canary Islands, Balearic Islands, and the Mediterranean coast on Friday, June 9.

Buffet’s property brand first announced plans for the Costa del Sol back in August 2020.

CEO Christy Budnick sees immense potential in Spain’s luxury housing sector. She is pleased with the company’s progress, focusing on exclusive areas in Barcelona, Madrid, and Marbella.

Despite rising interest rates affecting the property market, Budnick believes luxury property prices will continue to rise, especially in exclusive locations. The COVID-19 pandemic has shifted housing preferences, with buyers seeking comfortable homes with outdoor spaces for family and friends.

Berkshire Hathaway Home Services acquired Catalan firm GTS last year and is considering acquiring companies in Ibiza, the Costa Brava, and the Valencia region to strengthen its Spanish presence as well as its ventures in Mallorca.

The luxury property business has a presence in 14 different countries across the globe.