The digital platform Casavo announced that it had begun operations in Lisbon, planning on investing some 100 million euros to buy homes in Portugal. The prop-tech expects to transform the experience of buying and selling homes in the country by offering faster, simpler and more transparent service, in line with the real estate sector’s rapid growth and plans to expand into new markets.
Using a technology platform, Casavo enables instant property valuations based on its patented algorithm. It analyses multiple variables and allows it to present a direct purchase offer within 48 hours. With this technology, the company only needs to visit once in person to buy the property, compared to the usual average of 20 trips in the traditional market. When an agreement is made, the company guarantees the entire transaction process and fully pays the owner in just seven days.