Introduction to the Real Estate Market

DATE

15.09.2025

The session was conceived as a concise and rigorous immersion into the workings of the contemporary real estate market, with the aim of providing students with a solid conceptual framework to interpret design and business decisions in real-world contexts.

Basagoiti began with an overview of today’s real estate sector, offering key insights to understand market cycles, the relationship between supply and demand, and the role of regulatory and financial frameworks. From there, he introduced investment typologies and their evaluation criteria — by risk profile, asset type, and time horizon — emphasizing the need to align each decision with the strategy, liquidity, and return objectives of developers and investors.

The session continued with a comparison of business models and an analysis of the sector divided into three areas: financial (capital structure, cost of money, and funding sources), industrial (land, project, construction, supply chain, and timelines), and services (marketing, operations, maintenance, and user experience). This structure provided a complete view of the value chain and the critical interdependencies between stakeholders, phases, and success metrics.

Finally, the professor addressed two cross-cutting vectors: innovation and industrialization. He highlighted how digitization, process standardization, prefabrication, and shared data models are transforming the sector’s productivity and the resilience of projects. The session concluded with practical recommendations for the MArch Advanced students, focused on integrating economic and operational feasibility criteria from the earliest design stages, thus reinforcing the holistic vision that characterizes the program.

Luis Basagoiti Robles holds a PhD in architecture (cum laude) from UPM, two master’s degrees (MBA and MDI), and has an extensive executive career in the real estate sector: he has served as president or sole administrator of various real estate subsidiaries of BBVA and Mapfre, president of the Inmoalemania fund (2006–2018) — participated in by five Spanish insurers — and board member of several Spanish engineering and construction companies. He is currently president of Millenium Hospitality Socimi, advisor to Gavari Properties SOCIMI, S.A., and technical advisor for the Maraey real estate project in Brazil.

MARCH VALENCIA | ARQUITECTURA Y DISEÑO

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