Chestertons, a leading international real estate services firm, has announced the expansion of its operations in Spain, Greece, Cyprus and Morocco through its global franchise model.It thereeby addresses the interest in investing in property in the countries by British expats and investors from the Middle East region.
The franchise division, Chestertons Global Franchise Holdings Limited, which was launched in 2019, consists of real estate specialists providing a range of services to clients worldwide. The network is represented in 21 countries including those in the Middle East, Asia, UK, Europe and the Caribbean.
Nick Witty, Chief Executive Officer for Global Franchising, said: “The pandemic has provided the impetus for many people to reassess their lifestyle and how properties in different locations across the world might contribute towards a reimagined vision for the future. At the same time, travel restrictions and lockdowns have presented unprecedented challenges.
“The marketing, technological and brand heritage which we offer our partners has proved highly attractive, equipping them with the network and tools to enhance their services. The franchising model also offers local experts the chance to weather the storm and grow their businesses, with the backing of a global network of expertise and support.”
In Spain, Chestertons has partnered with Team España, which has over 20 years of property sales and investment experience in the country and will now be operating as Chestertons Costa del Sol. Led by Jack Cheshire and managed by Jamie Buss, the business is headquartered in Marbella, with the duo planning to expand the business across the Costa del Sol region over the course of the next three years.
“As a result of the popularity of Spain with the large British expat community in the region, combined with Middle Eastern investors who enjoy the strong cultural links, similar climate, relaxed pace of life, good flight connections and excellent value for money, there is a clear need to have the expertise on the ground to facilitate the interest and demand we are experiencing,” said Witty.
Chestertons will also represent some of the most prestigious beachfront properties, private estates and development land on the Greek islands of Corfu, Paxos, Lefkada, Ithaca, Kefalonia and Zakynthos. Investors will be able to tap into the vast knowledge and expertise of the Chestertons Ionian team, who have a wealth of experience matching investors with their ideal property.
Greece is another popular destination for investors from this region thanks to its Citizen by Investment Programme (CIP). Residency can be granted with a real estate investment of €250,000 ($304,960) within 10 days of purchase. Holders have access to education and healthcare in, as well as the ability to start a business.
In Morroco, JK Real Estate, an established estate agency business specialising in new homes, has joined Chestertons luxury real estate network and will now be operating as Chestertons Morocco.
The launch marks the first Chestertons office to open on the African continent and based in Morocco’s capital city Rabat. The remit will include the marketing of exclusive properties, including luxury newly built apartments and villas in the country’s major cities Casablanca, Marrakech and Tangier.
These include the Fairmont Residences Royal Palm Marrakech. The luxury development, serviced by Fairmont, is home to 19 villas, a world-class golf course and stunning views of the Atlas Mountains. The Chestertons Cyprus office, which is the most recent franchise to be added to the expanding global network, is expected to prove popular with the Middle East market with a plethora of opulent properties and golden visa program through real estate investment.
“Buying property as an overseas investor can be a daunting prospect. However, the local knowledge we are adding to the Chestertons network means we are exceptionally well placed to support clients as the world moves towards opening up, but it also means we have a more resilient business,” added Witty.
“Building on the impressive growth seen so far over the last year, our franchise offering is attracting interest from across Asia, the Americas and additional European locations. We continue to be on the lookout for like-minded partners that can share in our brand, technology and extensive international network,” he concluded.