BUILD 2019 Real Estate & Property Awards 2019 Real Estate & Property Awards BUILD 27 26 Most Innovative Home Buying Solution 2019 - Italy he concept of an iBuyer, or Instant Buyer, is relatively new but is quickly gaining traction across Europe. In a process that could potentially take several months, an iBuyer will take the property off your hands within a couple of days, allowing the seller to move into their new house. That’s the basis of Casavo, a fresh and exciting player in the home ownership market, set to turn the whole system upside- down. Though there are comparable companies in Europe, there’s never been anything quite like it in Italy, and it has taken the country by storm. In only two years, they’ve raised € 100 million in capital allowing them to grow incredibly quickly, with bases in Milan, Rome, Turin and Florence, and they’re looking to expand further still. With 92% of residential properties in Italy owned, as opposed to rented, there’s a large real estate market that has been waiting to be tapped. The trick has been focusing in on private transactions, as opposed to direct consumer to consumer transaction. This means that, far from being in competition with real estate agencies, this innovative approach works with partners in that sector. This is not to say things have been plain sailing for the new company. Doing something this novel occasionally has the consequence of being misunderstood. Gaining the trust of sellers and real estate agencies has understandably been a major challenge, especially considering the amounts of money involved. For the seller, at least, there is a sense of familiarity because they themselves will see no difference in the process, only in the legal documentation. Not content with being a category creator, Casavo still continues to modernise and explore new ways to manage the property industry. The iBuyer way of thinking means that purchase offers are made to sellers within 24 hours, allowing them to sell in a matter of days. The offer is based on a maximum of two home visits. The service is free, but an average 8% discount is applied to the purchase offers when compared to the market price. T Launching its very own online real-time evaluation tool, which doesn’t just consider the property, but also contextual factors like public transport and traffic noise, is just the first step for the company in this direction. What makes the valuation platform (EVA) special is the usage of data coming from the apartments visited by the experts during the previous two years. The model, using Artificial Intelligence, understands how similar different apartments in any given area are and uses this data in order to estimate the price of an apartment that it hasn’t seen before. The ultimate aim is to be able to remove entirely the need for on-site inspection and replacing it with a mobile app to use for virtual visits. This, alongside a proprietary algorithm that examines other city-wide property transactions, will make for a more factual foundation on which to base decisions. In the long run, the hope is that this will speed up the process of buying houses from sellers, while also fitting into the Hegelian mindset which has guided them so far. It isn’t just the arena of real estate buying that Casavo is looking at in terms of expansion. Alongside the iBuyer side of the business, there are plans to take Casavo out of Italy and into other Southern European markets such as Spain, Portugal, Greece and others. This would happen alongside the expansion of services on the home front, with Verona and Bologna being the primary focus. If the aim of Casavo was to innovate and open new avenues to the consumer, it’s clear that they’ve succeeded. The desire to try fresh ideas and twist the status quo is built into the very fabric of the company and it’s working. The incredible amount of capital raised in such a short time has never been seen before in Italy, and the plans for expansion on an international level show an ambition to make a difference across borders. Contact: Maria Fruscione | Company: Casavo Email:
[email protected] It’s not everyday that there’s a true home buying innovation on the scene, but Casavo have bucked the trend, and seems set on continuing to do so. Doing something truly unique in Italy, we’ll take a closer look at the company and how it has managed to plough its own niche in the market. Global Property Partners: Best Commercial Development & Consultancy Firm - Nigeria Global Property Partners (GPP) is a global investment firm, with a strong interest in commercial real estate, infrastructure development and energy projects. We recently profiled the firm to discover more about how they became one of the best development and consultancy firms in Nigeria. ounded in 2015, Global Property Partners (GPP) are a member of the Cavalli Business and Investment Group. Focusing on creating value within the ecosystem in a diverse range of sectors, which include investment guidance, infrastructure finance facilitation and mortgage facilitation, GPP provide their clients with an unrivalled service and the widest possible audience on commercial projects by utilizing the strength of the firm’s network. Today, GPP is an independent firm, which benefits from a pool of property information and marketing collateral that reaches the property markets nationwide. In addition to focusing on commercial and mixed development for high-end investors (such as individuals, corporate, local and global investors), the firm also works on joint ventures and partnerships with the state/federal government. On a mission to generate sustainable income and wealth for clients through sound real estate advisory and investment services, GPP so far has unlocked investment opportunities in infrastructure and commercial real estate development through creative solutions and global partnership. Since their inception, GPP have been able to consistently progress on their mission by utilising the strength of their network, exposure, skill, technical knowledge and also experience. As a result, the firm have been able to successfully manage and facilitate resources for various partners/clients over the years. One of GPP’s most recent projects they have worked on is the Pacific Lagos. Strategically located in Victoria Island, a central business hub of historically rich and culturally diverse city of Lagos, Nigeria, the Pacific Lagos is a prestigious twin tower, with a unique blend of commercial, boutique residential and play space development. It’s magnificent, modern and classic architecture echoes the spirit of a vibrant urban neighborhood with breathtaking views of the Lagos Lagoon. F Alongside the Pacific Lagos, GPP have accumulated a number of successful projects throughout the years, and have a proven track record of investment success, which have been built on integrity, world-class experience and international best practices that provides a credible platform for partnership that delivers optimum results. This impeccable reputation the team at GPP have created has been a result of the commitment to customer service they consistently provide, listening to their clients and responding promptly to any of their needs. The team are constantly striving to find ways to redefine the standard of excellence in everything that they do. As such, the team are open to ideas that challenge the conventional views and drive innovation by leveraging on research. The only constant in life is change, which they believe that in order to stay relevant, they must constantly improve with society’s changing needs. As for what the future holds for the firm, the team at GPP have a number of plans lined up for the years to come, which include new real estate projects, partnerships with the government, cross-country partnerships and also sister city facilitations to name but a few. With a number of exciting plans in the pipeline for the firm, it will be exciting to see how the team at GPP will continue to grow the business, their presence and the services they offer to clients in the years to come. Contact: Laolu Oluwarinde Company: Global Property Partners Address: 22 Bourdilon Road, Ikoyi - Lagos, Nigeria Telephone: 234 8161 622 647 Web Address: www.globalpropertypartners.net