The Casavo digital platform for the residential market acquires properties directly from owners with payment made for their property within seven days.
The arrival in Portugal of Casavo, an Italian digital platform for the residential market that acquires properties directly, is further proof that Portugal remains on the radar of real estate investors, even in times of pandemic.
Casavo’s operation in Portugal began with “a €100 million investment to acquire homes in Portugal,” the company said in a statement.
“The platform enters Lisbon to transform the experience of the process of buying and selling a home and offers a new service that is faster, easier and more transparent”, according to idealista/news.
What does Casavo do?
The company “has developed a technological platform which carries out real estate valuations, based on its patented algorithm, analyzes different variables and makes it possible to submit offers in 48 hours”. “Plus, you only have to make one in-person visit to the homes, as opposed to the usual average of 20 visits. If there is an agreement, Casavo takes care of the entire transaction process and makes full payment to the owner in just seven days,” they explain.
Casavo assures that, in this way, it “brings liquidity to the real estate market and transparency to a traditionally complex and exhausting process for sellers”.
“Later, the company carries out renovations and puts the properties back on sale, offering ready-to-live-in homes and making it easier for buyers to access housing, as their sale prices are still within the average market values” , they add. .
Quoted in a press release, Duarte Ferreira dos Santos, vice president of investments at Casavo in Lisbon, adds that “the real estate market in the Lisbon metropolitan area has an interesting dimension, with more than 70,000 transactions per year”, having “the ‘ideal features for a platform’ like Casavo, as people continue to prefer buying a house over renting.