London’s property market has been provided with confidence since billionaire businessman Warren Buffett partnered with high-end estate agent Kay & Co, in spite of a recent reduction in house prices.
Kay & Co announced that it has signed a franchise deal to join Buffett’s investment structure Berkshire Hathaway Home Services. Buffet, referred to as the “Oracle of Omaha”, is the chief executive of Berkshire Hathaway, which has ownership of over 6o companies.
So, finally the world knows our amazing news! We are joining @warrenbuffet‘s Berkshire Hathaway Homeservices’ (@BHHSRealEstate) team to become Berkshire Hathaway Homeservices Kay & Co, this November. #kayandco #warrenbuffet #estateagent #london #franchise https://t.co/cy5W3IcLUc
— Kay & Co (@KayandCo) September 10, 2018
London house prices declined 0.7 per cent in the year to June, according to the most recent official statistics. Kay & Co managing director Martin Bikhit said the matter is “absolutely” a vote of confidence in the capital’s property market. Bikhit, who is the son of founder Samuel Bikhit, said “Warren Buffett is renowned for making the right calls on markets, and his approach has been to invest in good quality businesses and then leave them alone.”
He added: “They have the desire to make their brand a worldwide global brand, and London really is the gateway to Europe and beyond.”