Spanish Real Estate Ecommerce Revenues up 23.6% in 2023

The Spanish government has revealed that revenues from online real estate services in Spain rose to €252M ($274M) in the first nine months of 2023.

Highlights from the numbers published by the Spanish National Commission for Markets and Competition include:

• Revenues from online real estate services up 23.6% from 2022.
• Of which, €139M were for international companies
• Q3 2023 saw e-commerce revenues hit €99M
• Sales of online real estate services within Spain increased 17.6% between January and September 2023

In short, online real estate in Spain is growing healthily, with a strong indication that the numbers in Q4 2023 and Q1 2024 will also see steady increases in revenues across the board.

The Spanish government will be pleased to see that Spain continues to be attractive to both domestic and foreign buyers; sales from abroad hit €139.4 million, a 25% increase from the same period in 2022.

Does this mean anything for Idealista?

Idealista, Spain's market-leading real estate platform, is rumoured to be up for sale, rumours that recently intensified when the portal restructured its debts before the Spanish press reported that four parties are drawing up bidding plans for the portal.

The numbers certainly won't harm Idealista's chances of being sold to a discerning buyer; there are worse places to look than digital revenues to get a good indication of the health of a local industry.

Idealista is an active acquirer of companies including insurance service providers, and the portal has consistently rolled out user-friendly features including property valuation tools, lead generation tools, renovations calculators and service providers for agents in Spain and Italy (where the company is also competing for market leadership).

New buyers will want to tap into these revenue streams in line with Idealista's M&A strategy.

Idealista is the owner-operator of no fewer than ten real estate assets in Europe (see below). If digital revenues are trending upwards, Idealista will have a lot of fingers in a lot of pies to extract values across the real estate ecosystem in Spain, Portugal and Italy.

Idealista Assets