BidX1, the Online Property Marketplace, Arrives in Spain with a Disruptive Business Model

18 September 2019

The firm, which was founded in 2011, has already sold more than 8,000 assets of varying types in an array of international markets
BidX1 has a local team with 17 professionals who have extensive experience in the real estate sector and the Spanish market in particular
The first digital sale will take place in Spain on October 16^th, where 100 properties will be on sale, ranging from residential to commercial, along with industrial assets and land for development

BidX1, Digital Real Estate Marketplace, which specialises in online property sales and has an extensive track record in the Irish and British markets, is inaugurating its European expansion strategy, opening an office in Spain. The company, which was founded in 2011, had a turnover of €1.5 billion (April 2019), gained through the sale of more than 8,000 assets of different types. €800 million of that corresponds to fully online sales by way of its powerful digital platform in just two years.

In Spain, the first digital sale – Sales Day – which will be mainly be aimed at institutional and private investors, will take place on October 16^th. At the time, 100 properties in more than 25 provinces will be on offer. The catalogue is already available, with properties starting at 50,000 euros and ranging to land for development, offices and industrial complexes with prices starting at more than 3 million euros.

A new and revolutionary proposal

BidX1 has succeeded in revolutionising the market in Ireland and the United Kingdom thanks to a new and innovative vision of the property market, offering both the buyer and the seller the platform’s inherent advantages: transparency, accessibility and efficiency.

Transparency is the key to the entire process. Buyers have all the information regarding the property at all times, and during the Sales Day you can see, in real-time, any offers made by registered users. In addition, the seller has all the information related to anyone interested in their property, thus obtaining valuable market information.

Accessibility is another major factor making BidX1 such a disruptive platform since it allows users to easily access and offer properties from wherever they are in the world. So far, users of more than 173 different nationalities have accessed the platform, with buyers from 25 countries. More than 40% of them completed their transactions using a mobile device.

Also, technology and experience come together to offer a completely efficient process. The availability of the documentation, the development of the entire online process and the possibility of having knowledgeable professionals with extensive experience in the sector available to its users has led to the purchase term falling to just ten weeks in Ireland and the United Kingdom.

The first step in a European expansion

The company’s success has not been unnoticed. Last year, the private equity firm, Pollen Street Capital, made a strategic investment in BidX1 to support its international expansion, which is beginning with an expansion to South Africa, Spain and Cyprus in 2019 and will continue throughout 2020 in countries such as Portugal, Italy and Greece.

Johnny Horgan, BidX1s’Managing Director for Europe, states that “it is a source of pride for us to continue BidX1’s international expansion in Spain. It is a mature market with significant potential, where we want to change how properties are bought and sold, betting on transparency throughout the entire process. Therefore, we are offering a disruptive platform that has been incredibly successful and very well received in Ireland, the United Kingdom and South Africa.”

Javier de Pablo, the Head of Property for BidX1 Spain, says that “the Spanish market is one of the most attractive in Europe, with a large volume of properties that, thanks to our Marketplace, we can offer in a transparent, simple and efficient way, both to Spanish and international buyers. ”

About BidX1

BidX1 is a Digital Real Estate Marketplace that focuses on the use of technology to improve the market for property sales. The company has developed a customised platform that allows user to buy or sell properties online from anywhere in the world, on any device, safely and efficiently.

The firm has had revenues of more than 800 million euros in just two years with the fully online sale of more than 4,000 assets of different types, from apartments to real estate portfolios, in multiple international markets through its advanced digital platform.

For further information please contact:

BidX1

Julio Aragón: Julio.Aragon@bidx1.com / 671 12 82 13

Kreab

Laura Llauradó: llaurado@kreab.com / 91 7027170 or +34 658 12 76 40

Eva Tuñas: etunas@kreab.com / 91 7027170

Reyes Pablo-Romero: rpablo@kreab.com / 91 7027170

Adaptation/Translation: Richard D. K. Turner