Homing expands its operation to Algarve and extends it Local Accommodation offer.
HOMING, which operates in the Local Accommodation management market, wants to expand its operation, which is now based in Lisbon, to Algarve with the opening of two new stores. This expansion aims to strengthen brand growth and make it a national reference while keeping the DNA of trust that is currently placed on the Lisbon’s store.
Operation expansion concerns foreign owners and investors with properties or second homes in Algarve, with which Homing intends to partner up and support them in making a profit from their businesses.
Tomás Azeredo Perdigão, former HOMING marketing manager, says that “operation expansion is a result of the defined strategy to increase and diversify our offer and explore new markets and different tourism options. With the consolidated brand, we want to strengthen our growth in a sustainable way and reach the 400 units in Portugal this year”.
The type of houses that are wanted for this service in Algarve are villas and apartments, based on the same variable (from 20% of booking value) or fixed (guaranteed income) management model.
In a sector that is not very professionalized, the option of handing over property management to specialised companies benefits owners and investors. The cost of management fees is offset by the increase in property profitability. Concurrently, those who want to make a profit from their properties or invest in Portugal usually have little time and hire full management services, which include property maintenance, check-in and check-out, advertising, and paperwork.
HOMING offers more than 250 units on its platform between Lisbon and Barcelona. In Lisbon, the company manages more than 200 units which are the equivalent to about 200 million euros worth of property.
