8 October 2019 – Berkshire Hathaway HomeServices, Warren Buffet’s real estate agency network, began operating in Spain last week through an alliance with Larvia. To begin with, the two firms will focus on the luxury market.
The two firms are forecasting revenues of approximately 5 million euros in the joint venture’s first year of operation. Berkshire Hathaway HomeServices Larvia also plans on increasing that figure to €65 million over the next five years.
Original Story: El Español / E.E. / Agencias
Adaptation/Translation: Richard D. K. Turner
16 July 2019 – Richard D. K. Turner
Warren Buffett’s Berkshire Hathaway, the largest real estate brokerage in the United States, will form a joint venture with Larvia’s Petrus brokerage in an attempt to replicate its success in the US. The American firm followed its usual strategy of teaming up with a local company with in-depth knowledge of the market.
Berkshire will focus on the upper-end of the market, with flats in Madrid costing at least 600,000 and single-family homes above €2 million. The new company will also focus on homes in areas nearby golf courses, in central Madrid, Barcelona and the Canary and Balearic Islands. Larvia’s existing network of offices in Madrid and Barcelona will start off as a basis for the new partnership, with plans to double or triple their presence in Spain by early 2021.
Original Story: Expansión