QuintoAndar Claims Record 2,000 Contracts in May as It Grows Sales Business

June 28, 2024
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The Brazilian real estate marketplace operator and brokerage QuintoAndar claims that it closed 2,000 real estate purchase and sale contracts in May this year.

The figure represents a company record for any single month and a 65% year-on-year increase.

Having started out as an online end-to-end rentals brokerage in 2012 the Sao Paulo-based company has diversified significantly adding sales in 2019 before going international and moving into classifieds with the 2021 acquisition of Navent Group's real estate classifieds.

In comments given to local masthead Veja Negocios, the company's Commercial Director, Arthur Malcon, was optimistic about the outlook for both the sales and rentals business.

“Both businesses, property rentals and sales, have the potential to grow dozens of times. I don’t think it’s possible to say which will be bigger. In Brazil alone, there is a universe of growth to be had. And if you include the rest of the world… We think like a global company.”

QuintoAndar was able to grow its sales business despite the ongoing sluggish outlook in the Brazilian market. One of the company's main domestic competitors in the marketplaces realm OLX Brasil is in the process of trimming its cost base and "headcount restructuring" in the face of a "weak macroeconomic environment" according to the latest filing from its parent company, Prosus.

 

June 28, 2024
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

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