One of the largest luxury home purchases last year in Spain was that of a private house in the upper area of Barcelona. The transaction exceeded 10 million euros.
Alex Vaughan and Stijn Teeuwen, partner of Lucas Fox Photo: Elena Ramón.
"It was the largest operation we have coordinated since we started, although we have sold 300,000 euros floors," said Stijn Teuwen, director and founder of Lucas Fox Barcelona, along with Alex Vaughan.
Lawyer by profession, left behind his life in the Netherlands and United Kingdom respectively, and moved to Barcelona with their families to "change of scenery." Teeuwen happened first in Andalusia, where he began his first real estate business. 6 years ago he moved to Barcelona and met Vaughan. Together they created Lucas Fox in 2005. Since then help foreign buyers to find housing for a very specific market niche.
A demanding customer
Foreign clients account for 70% of the total business of the company. "They do not need mortgage, have much work, little time and want answers fast," said Teeuwen. By nationality, 20% came from Eastern Europe, especially Russia. Other important clients are Australian, American and more Chinese and Indians, the latter doing business in England.
At first, many of them bought houses for a second home, but increasingly want to live in Barcelona. "The city is clearly a plus, but the main obstacles are to get a job working according to their level and find the appropriate value of the product," says Teuwen. The employer believes that the market is stable Barcelona after the "adjustment" to the luxury homes, but argues that prices "have yet to lose a little more."
Of the 18 employees who have Lucas Fox Barcelona has four more in the office of the Costa Brava and Ibiza five in only two of them were born in Spain and the rest are from ten different countries. "In addition to speaking their language, understand their cultural roots, which helps us find the right product for each customer," says the founder of Lucas Fox
A double-edged sword
Teuwen notes that the international focus of the company puts them a step backwards from similar agencies who know the market over Barcelona. But it is also true that they can get more foreign customers, which seems to be the only one who resists the stake of the crisis, as domestic demand continues to fall. In fact, according Teuwen, many sellers believe that the international market is the "only solution" to sell their property.
These international customers Lucas Fox has allowed its sales grow by 40% every year since its founding. In 2010 some 40 operations were performed with a value of 66 million euros (1.6 million euros on average per transaction), which allowed them to bill some two million euros.
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