After more than 20 years of success and continuous international expansion, the international real estate company KENSINGTON Finest Properties International, based in Switzerland, is now expanding to mainland Spain, opening its first office in Madrid this summer. The office in the Salamanca district will be the head office in Spain and the point of contact for high-quality properties in this region.
To mark the occasion, Mehrdad Bonakdar, CEO & founder of KENSINGTON Finest Properties International and Pablo Lopez Perez, master franchisee for the Madrid region, invited guests to a brand presentation at the well-known private museum Espacio SOLO in Madrid on 27 October 2021.
In an extraordinary atmosphere, guests attending the fully booked event were served welcome drinks and introduced to the services and successes of the renowned brand. During the event, Ms. Araceli Martin-Navarro was also introduced to the audience as the new KENSINGTON Expansion Manager for the Andalusia region.
During the company’s presentation in Madrid, Mehrdad Bonakdar highlighted the interest in this market: “Despite the lack of mobility for international clients and investors due to the COVID-19 crisis, activity is picking up and is already approaching pre-pandemic levels, particularly in key markets like Madrid and the Costa del Sol. We expect 2022 to be a good year in terms of sales volumes”.
“After only a few months up and running in Madrid, we are already very active in the districts of Salamanca and Chamberí, and we are very optimistic that we will be granting additional franchise licences in other districts of the city and surrounding areas in the coming months. We expect to have a total of 10 offices in the city by 2024”, confirmed Pablo López Pérez.
KENSINGTON’s network in the capital is currently focused on residential properties, although the company plans to expand its business activities to include office, hotel, retail and non-residential properties in 2022.
“As with any international property market, there are different aspects to the spectrum of demand in Madrid. There continues to be a demand for permanent housing, both from locals and foreigners from Latin America and Central Europe, but also from international investors who see the capital as one of the European markets with the greatest potential for business opportunities and improved profitability in the coming years”, claims López Pérez.
“As for the supply of assets in Madrid, this has increased in recent months as a result of the gradual lifting of restrictions on freedom of movement, but also due to other specific factors such as the sale and purchase of properties previously used as holiday and tourist rentals. At the moment, however, there is no oversupply putting pressure on prices, which remain moderate with a slight upward trend”, says Pablo López Pérez.
Founded in 2000 as boutique agency on Mallorca, the property company has more than 70 franchise branches in Germany, Switzerland, Austria, Dubai and Spain (Mallorca (10 offices), Ibiza and Madrid) and is one of the market leaders on the Balearic Islands. In addition to its core business, marketing high-quality properties, KENSINGTON operates in other business areas with a mergers & acquisitions division, a commercial real estate division, property developments, its own family office for investments and an art platform. KENSINGTON is also the publisher of the international lifestyle magazine OnLOCATION and acts as an international sponsor for polo tournaments. Just recently, the company also launched its own KENSINGTON Real Estate APP.