Ole! UK agency opens a branch in Barcelona - a premium agency.

Savills has announced the launch of a residential business in Barcelona covering the sales and rental market in and around the city.

Pablo Balea Vicente, who joins Savills with 10 years' experience in the Barcelona market, will lead a team that currently consists of 12 brokers.

The launch of Savills' residential sector is part of the company's strategy to expand residential real estate in Europe and follows the launch of Savills' residential businesses in Germany, Portugal and Italy.

Justin Marking, head of global residential sector at the agency, commented: 'Our strategic aim is to leverage Savills' expertise in the residential sector across Europe by establishing our own offices in key centers such as Barcelona.

According to Savills research, premium home values in Barcelona rose 3.0% in the 12 months to June 2023, above the global average of 1.9%, but remain low by global standards, with prices lagging 8.0% behind Madrid, 42% behind Berlin and 65% behind London.

Savills has been operating in Barcelona since 1989 and is the only major international real estate consultancy offering a full range of real estate services in the Catalan capital.