man group LA manager expands business to Greater Lisbon and Madeira
Homing Group, a company specialized in the management of Local Accommodation (AL), decided to expand its presence in Greater Lisbon and even fly to Madeira. According to the CEO, João Bolou Vieira, the year 2022 was organized with the expansion of services from AL to Cascais, Oeiras, Loures and Sintra. In the final phase of launch is the entry into the West zone (Ericeira and Lourinhã) and Madeira. Homing’s strategy, which already had physical stores in Lisbon, Porto and Algarve, is to have a “well-marked presence” in these locations to respond to owners and guests, at a time when the business is showing signs of growth.
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As João Bolou Vieira puts it, “we can already say that the market is good”. As bookings “are arriving at a very high pace and we expect to approach 2019 prices”. Therefore, Homing wants to expand its property management portfolio under the AL regime, which is around 350. “We are committed to explaining to owners who are alone in this activity today, who have enormous advantages in delivering homes to Homing”, it says.
The company guarantees to our clients the optimization of their income through specialized software, maintenance, quick problem resolution, 24/7 availability for guests and 20/7 presence and availability for guests and presence of 20 platforms in more than 20 environments, he stresses. And, above all, “you will lose the total shopping for all the worries and little things that bother and make homeowners time and often money.”
With this strategy, Homing wants to turn the page on the covid-19 crisis, which caused “a brutal drop in sales” in AL. But the pandemic also boosted the business of the 100% Portuguese group. At that time, he bet on real estate, guessing that some owners might want to sell their assets. However, in the case of its customers, there were “few” of selected subjects in the market, as well as residuals those who exchanged AL for long-term lease contracts. Most of Homing’s houses are owned by foreigners and they “remained calm and patient” in the face of falling incomes.
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Thus, and taking into account a dynamic real estate market, Homing Real Estate last year mediated transactions worth 15 million euros, of which 35% relate to business with international investors from countries such as the Middle East, China, Turkey and Brazil – these betting on acquisitions under golden visas – but also Europeans. With the new activity, the company recorded one million euros in commissions in 2021.
The future is also promissory. João Boloeira admits that the challenges facing the sector, such as rising inflation, the probable interest rate attempt and the war, can turn into opportunities. As he says, “Portugal can benefit from the focus of capital or foreign investment as it is the most distant country geographically from the center of the crisis”. On the other hand, “inflation and interest rate correction are minor variables” and “it has “temperance and several new customers” with this one alone.
The business focus remains on LA management. Comosa showed strong revenue growth20 for 2021 to 2021 of 1.4 million 2.3 million, influenced by the pandemic of routine invoicing, for the start of the activity.
Now, expectations are centered on this exercise. Homing Group expects it to reach 2019 numbers, that is, account for sales of four million in AL. In real estate, the estimates are one million in commissions.