European Union : a market of 280 million homeowners and of 100 million members of HOA!
On May 1st, 2004, the European Union was drastically revitalized with the arrival of Poland, Czech Republic, Hungary, Slovakia, Slovenia, Baltic countries, Malta and Cyprus.
The population of the Union reached 450 million inhabitants, and the real estate markets are becoming more and more active: approx. 6 million homes have been sold, in 2003, by 150,000 real estate brokers and agents, compared to 6.1 million homes sold in the US, in the same period, by….almost one million REALTORS®!
The rate of ownership reached 63%, especially with the arrival of new European countries, where more than 80% own their home (in Hungary, Poland, Slovakia), while it is only 43% in Germany and 55% in France. With second home sales, New European brokers have a very profitable market ahead!
More than 20 % of dwellings are condo managed by thousands of companies. The consolidation of this industry is very quick and some companies manage hundreds of thousands of units!
Two examples of European dynamism and opportunities
1) France, the European leader in HOA management
France, a country of 60 million inhabitants (roughly 20% of the US population) has 55% homeownership and 8 million condos!
In less than twenty years, several French entrepreneurs have completely transformed the industry of property management in Europe. With a very successful use of technologies and a touch of “French spirit”, France gave birth to several giants:
- A, 1st European property management, became a public company in 2001. The value of its shares has doubled since the introduction and the company, who has 230 branches in France and manages 600,000 units in HOA, is expanding in several countries.- B, the 2nd player, which manages around 550,000 units, is a subsidiary of one of the most important financial group in Europe. The HOA management division has subsidiaries in several European countries including Poland.
- C, the third giant has just sold its commercial division to one of the most important European banks. But this firm is still the owner of the first French real estate franchise!
They are looking for international partnerships or opportunities! And they would be interested in a joint-venture in the U.S. in order to create a nationwide company, and they already have several targets.
Contact: (562) 331-4063