Sotheby’s International Realty is intensifying its focus on Spain’s luxury real estate market with the launch of a new brand. Spain Sotheby’s International Realty will be a part of a bold expansion strategy. Moreover, the company aims to secure a 10% share of the luxury housing market in Spain within the next three years.
The rebranding effort comes at a time when the sector is experiencing significant growth, positioning the brand to capitalise on Spain’s thriving property market.
A strategic rebrand and expansion
The renowned auction house has recently consolidated all its previous franchises under one unified brand, Spain Sotheby’s International Realty. Paloma Pérez Bravo, CEO of the company, explained that this rebrand reflects a natural evolution for the company as it looks to solidify its leadership in the high-end residential property market. “We are focusing on the top segment of the market, which represents 15% of Spain’s real estate sector,” she said. “This is a step towards strengthening our position and offering a premium real estate service that reflects the prestige of Sotheby’s worldwide.”
With an ambitious goal of achieving €1.9 billion in transactions by 2028, the company is expanding its presence across the country. The brand plans to establish 22 strategically located offices in key areas, including Madrid, Barcelona, Costa del Sol, Costa Brava, the Balearic Islands, the Canary Islands, and the Basque Country.
Strengthening presence in prime locations
Currently, Spain Sotheby’s International Realty operates 14 offices across Spain. The company has recently moved its Madrid headquarters to the prestigious Salamanca district. Furthermore, it is opening new locations in key luxury areas such as La Moraleja in Madrid and the renowned Bulevar Príncipe Alfonso de Hohenlohe in Marbella. The firm is also enhancing its footprint in southern Spain with the opening of an office in Puerto de Santa María, Cádiz. These new offices aim to cater to the discerning clientele seeking high-end properties in these sought-after regions.
Redefining luxury real estate
For Spain Sotheby’s International Realty, luxury is no longer solely defined by the price tag of a property. Instead, the brand focuses on offering an unparalleled lifestyle that emphasises personal satisfaction, attention to detail, and innovation. “Luxury is not just about ownership, it’s about a lifestyle,” Pérez Bravo added. “In Spain, we have a unique opportunity to lead this transformation in global luxury real estate by providing not just high-value properties, but a personalised experience that connects with clients emotionally.”
Five key regions
Spain’s luxury real estate market is significantly concentrated in just five key regions. Here, nearly 80% of high-end properties priced over one million euros are located. The regions are the Balearic Islands, Málaga, Madrid, Alicante and Barcelona. Within the luxury market, an even more exclusive segment exists: properties priced above three million euros. This ultra-luxury market comprises 7,889 properties, predominantly concentrated in the Balearic Islands and Málaga.