The “Fincas Exclusivas” business segment managed by the Engel & Völkers Metropolitan Market Center in Madrid, comprises the most unique, prestigious and historic real estate in representative areas of the Iberian Peninsula. With prices spanning up to 50 million euros, these recreational properties primarily encompass Spain’s inland, especially areas such as Madrid, Toledo, Extremadura and Andalusia. “Especially in 2020 we have been contacted by many Spanish as well as international clients who, due to the coronavirus pandemic, are in need of leaving the city and in search of properties with generous outdoor spaces in the countryside,” says Juan-Galo Macià, CEO of Engel & Völkers in Spain, Portugal and Andorra.
The demand for spacious green areas is hence skyrocketing. Winery, equestrian and hunting properties, as well as historic fincas, agricultural houses, monasteries and castles that can be transformed into a unique second home residence, all lie in the “Fincas Exclusivas” portfolio of Engel & Völkers. “Due to our clients’ increased interest in exclusive estates and manor houses over the last years, we decided to start this business segment in 2016 in order to offer them prestigious second homes, as well as investment opportunities for those interested,” explains Óscar Larrea, Managing Director of the Metropolitan Market Center (MMC) of Engel & Völkers in Madrid.
In addition to the elevated price range, the properties meet several common characteristics: proximity to Spain’s capital city, an airport, recalling more than 500 square metres of living space and the potential to extend even further. Buyers interested in these types of estates can be categorised into two large groups: entrepreneurs residing in Madrid who are looking for a place to stay for weekends, as well as foreign clients, mainly from northern Europe, Russia, South America and China, who wish to invest in Spain.
Due to its extensive international network and access to a very exclusive buyer profile, Engel & Völkers has a key competitive advantage for buyers searching for these kinds of unique estates. “Up until now our division encompasses over 44 registered properties. The company’s objective is to achieve a portfolio of 100 to 150 properties and become the benchmark for unique properties on the Iberian Peninsula,” Óscar Larrea concludes.