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“Now, Purchase in Spain Equals to Good Deal”

16/05/2014 – Expansion

Ricardo Martí Fluxá leads ACI, an association uniting four largest real estate advisory companies in Spain: Aguire Newman, CBRE, JLLS and Knight Frank. “They are as Spanish as any national company”, he says.

“Due to real estate advance, advisors play more and more important roles. (…) ACI supports transparency in the sector by publishing official, unified statistics extracted from various sources”, the director explains.

Another challenge faced by ACI described by Martí Fluxá is better management of property belonging to the Public Administration with view to obtain greater savings. “We cannot clearly state whether all public houses shall be rented or sold but we shall consider each case separately. That will, obviously, take time”, he claims.

The advisory firms also play crucial role in property sales to foreigners. “The arrival of so many international funds has not been provoked by Sareb, but by real opportunities. Those who purchased in the last months have done a really good business”.

“As the investors´profiles vary, advisors are there to guide, coordinate and help the funds to do their shopping.”

The four prominent members of ACI (Real Estate Advisory Association) gather around 80% of all revenues of the sector in Spain. They employ over 1.200 workers in the country and around 18.000 all around the world. Altogether, they manage seven million square meters of commercial real estate. Moreover, the former four remain open to welcome new members in the association.

 

 

Original article: Expansión (by Rocío Ruiz)

Translation: AURA REE