Warren Buffet in Malaga?

Well, no… Warren Buffet is not in Malaga, but his business certainly is.  Berkshire Hathaway HomeServices, owned by Buffet, is yet another global company showing major interest in Málaga, Spain. 

The company has installed two offices in the province, one in Malaga and the other in Marbella.

Malaga’s transformation into a cultural and technological hub

Berkshire Hathaway HomeServices, owned by Buffet, is yet another global company showing interest in Málaga, Spain. 

The company has installed two offices in the province, one in Malaga and the other in Marbella.

Malaga’s transformation into a cultural and technological hub

It highlights Málaga’s transformation into a “technological haven”, as described by Berkshire Hathaway’s own report.  The report points out that the province is a “hotspot” for new property searches, especially among Americans, noting a 25% increase in their purchases between 2019 and 2022.

Bruno Rabassa, CEO of Berkshire in Spain, attributes this rising interest to factors like a strong dollar against the euro, world-class transport infrastructure, and a stable political and economic climate. 

Rabassa states that Americans are seeking places to invest their retirement funds, with Spain being viewed as a “secure and reliable” option.

Málaga is described as an ideal investment destination, with Rabassa singling out the city as a prime spot for Europeans seeking sun and beach life. 

The report underscores Málaga’s significant increase in home sales, surpassing Barcelona as the second-ranking city in Spain for such transactions.

 

Rabassa credits the city’s transformation, in addition to the weather and the food, to the affordability compared to other major capitals. The average price per square meter in Málaga is 2,600 euros, while in Marbella it’s 4,100 euros, significantly lower than Madrid and Barcelona’s prices of 6,200 to 7,000 euros.

 

The report also commends Málaga’s mayor, Francisco de la Torre, for his focus on sustainability and technology, attracting companies like Google, Bombardier, Siemens, and Oracle. Marbella, located less than an hour’s drive from Málaga, is highlighted as a growing luxury market with a reputation for quality.

 

Regarding the real estate market in Marbella, Rabassa notes rising prices due to high demand and low supply, leading to a historic increase in the sale of off-plan or under-construction properties. The new clientele, according to Rabassa, is young, tech-savvy, and trend-aware, seeking high-quality homes with contemporary architecture, advanced technology, sustainable design, and a connection to nature.

 

Recent data from the company indicates a 200% growth in American buyers in Málaga in recent years, attracted by the climate, beach lifestyle, cuisine, culture, and affordability. Luca Tamburello, co-founder and partner of Berkshire in Málaga, emphasizes two factors driving American clients to the city: the region’s safety compared to increasing firearm-related issues in the US and the affordability of both property purchases and maintenance.

 

Tamburello believes that the launch of the Málaga-New York United Airlines flight will further boost the arrival of Americans to this corner of Spain. In summary, Berkshire Hathaway HomeServices’ report highlights Málaga’s appeal to American buyers due to factors like a strong dollar, technological advancements, and an attractive lifestyle in a city that has rapidly gained their attention.

Malaga is affordable compared to other major cities

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