The municipality of Oleiros, in real estate terms, is one of the most attractive in Galicia and even the whole of Spain. In fact, according to data given by El Mundo newspaper, this is the town with the highest number of wealthy people per square metre. So much so that, in some cases, the wealth of its inhabitants far exceeds the 6000 million euros. This has in turn worked out favourable towards the creation of luxury real estate for buyers with high purchasing power.
Based on this data, it is not surprising that the franchisees from Engel & Völkers La Coruña have made a strong financial bid on buying the Oleiros franchise. This, moreover, has to do with the considerable expansion that northern part of Spain has been experiencing during the last few months. Apart from Galicia, the cities of Oviedo, Gijón and Vitoria have also gained particular exposure.
From left to right, el director Álvaro Rodríguez, licence partner Roberto Fernández, the Expansion Manager North Spain Iara Búa and licence partner Atilano Vázquez.
In addition, the license that is granted for Oleiros not only covers this popular municipality, but also encompasses Sada, Cambre, Bergondo and Sada. Undoubtedly, these are enclaves with great attractions that, in general, are very recurrent when it comes to finding a home for buyers with high purchasing power.
The purchase of the Oleiros franchise has been possible thanks to the excellent results that the managers of La Coruña franchise have seen since its inception in the Galician city back in 2015. At that time, its representatives set out to reach a market share of Between 10 and 15 per cent in a maximum period of four years. However, it was to be expected that they took much less time to do so in the light of the results achieved. In fact, within just one year, 5 per cent of the market share was achieved.
This confirms the unstoppable progress of Engel & Völkers throughout the country and its appeal as an exclusive alternative to conventional real estate. It would suffice to say that, in national terms, the company has managed to grow 45 per cent during last year, which has been possible, to a large extent, to the incredible growth of 41 per cent in sales during that period.
Álvaro Rodríguez Fernández-Argüelles, from his position as partner-director, will be in charge of directly managing both La Coruña and Oleiros franchises. However, within the licensees, we must also include Atilano Vázquez Martínez and Roberto Fernández Folla, who are also part of the group owners of the aforementioned La Coruña franchise.
Photo: © Jose Luis Cernadas Iglesias (Fllickr)
The reasons for which they have made this strong commitment also lie in the high number of single-family homes in the area and the speed with which buyers usually find these properties. In this sense, to offer a better and more conscientious coverage to the area of Oleiros and its neighbouring municipalities, the franchise managers foresee the addition of five new advisers to the team as this means a more attentive and personalised service can be offered.
In specific terms, in the Oleiros area alone, there are 362 homes, between villas and single-family houses, whose value exceeds 300,000 €. For its part, according to recent data published by the Ministry of Public Works or Ministerio de Fomento, the total value of the homes purchased during the year 2015 in this municipality amounted to 40,000,000 €. In addition, in recent years, the region has been experiencing strong growth in the real estate market, which suggests that the coming years will be even more prosperous than the previous ones.
In summary, the purchase of the franchise in Oleiras by the owners of the La Coruña franchise is a step forward both for Engel & Völkers and for the licensees who have bet heavily on this business strategy. Undoubtedly, this is an area with plenty of real estate investment opportunities, hence the reason it has led its leaders to make a bet of this caliber.