The Italian headquartered iBuyer Casavo has announced that it is to expand its Spanish operations to Seville where it will initially invest some €10 million to acquire properties.
Casavo expects to do some 50 transactions in Seville this year with the help of a local team of 50 employees. Casavo's long term goal is to be involved in 5% of all housing transactions in the city.
The company opened up shop in neighbouring Malaga at the start of the year, in Portugal in January and in Barcelona in September. The Milan-based iBuying specialist founded by Giorgio Tinacci in 2017 first launched its Spanish operations in Madrid in early 2020.
Considering the number of headlines generated by American iBuyers, the model's European counterparts have gone slightly under the radar. The speculative model is alive and well in Europe, especially in Spain with the likes of Casavo, Clickalia, Housfy and Finnish rival Kodit.io all operating some variation of the model.
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