HousingAnywhere EBITDA Profitable, but Written Down for Second Time This Year

The European rentals marketplace HousingAnywhere's valuation has now dropped more than €20 million in two years after being subjected to another valuation write-down this quarter.

HousingAnywhere was the subject of a write-down by a shareholder this quarter, with its 29% stake held by VNV Global written down by 15.6% this year.

The current valuation of HousingAnywhere is now approximately $36.1 million, down from February 2025's valuation of €42.8 million. HousingAnywhere was valued at over €50 million in 2023.

Nevertheless, the Swedish investment company VNV is confident about HousingAnywhere's performance with solid earnings for the full year.

In its latest financial reporting, VNV said:

As per September 30, 2025, VNV Global values its 29.0% investment in HousingAnywhere at USD 36.1 million, based on a forward-looking EV/Revenue model. In 2024, HousingAnywhere delivered in line with its budget, and the company was adjusted EBITDA profitable for the full year. The company has actively worked to improve its offering, including its Rent Guarantee product which, was used in 40% of the 25k French bookings that were completed during the year.

Nevertheless, VNV made a fair point in its analysis that it is very difficult to keep an accurate valuation of the business:

Valuing unlisted companies without perfect listed peers and with a myriad of different share classes with different attributes is not an exact science. Probably more art than science. We would like to err more on the downside if anything, i.e. being a little more conservative than a little too aggressive.

Our model for HousingAnywhere is [down this quarter] mainly driven by Airbnb trading down in Q3.

It's been a year of transition for HousingAnywhere after Djordy Seelman departed as CEO after ten years at the company, with Immobiliare's Antonio Intini joining as CEO in his stead.