New buying and renting experience, less bureaucratic, more digital and more time and cost effective!
New data are now shaping the real estate market, as the pandemic has negatively affected the upward trend observed in the last two years in the industry. Since 2018, the market has seemed to recover, mainly due to the interest shown by foreign investors for luxury real estate and holiday homes in our country and the incentive to obtain a golden visa, but also due to the strengthening of the sharing economy in the real estate market, which led to the model of short-term lease.
However, the health crisis does not seem to leave the real estate market unaffected. The general economic environment and the insecurity for travel abroad that prevails are drastically changing the landscape, something that will be recorded even more intensively by the end of this year.
At the same time, the buying and selling of real estate in Greece still faces structural problems, such as bureaucracy leading to time-consuming and costly processes, which often discourage potential foreign buyers, resulting in many of them abandoning the effort and turning to other markets.
The average time required to complete a purchase of an average property is about eight to twelve months, which of course depends to a large extent on its maturity, both legally and technically.
In renting, the average time may be shorter but there are other problems. The experience of the tenant is often unpleasant as there is a lack of detailed data and misinformation as to the availability of the property. Finally, drawing up and signing a lease is often a time-consuming process.
The solution to these specific problems offers an innovative digital platform that facilitates the process of buying or renting real estate.
Prosperty is a purely Greek startup that solves the hitherto lack of detailed data and the absence of technology in the relevant processes and forms a better experience for both owners and potential buyers or tenants. Prosperty recently started operating having previously secured significant funding from investment funds of the order of 1.1 million euros.
Prosperty undertakes the gathering of all necessary documents for each property, and when required, provides a legality check of the property and on-demand technical support for the issuance and verification of additional necessary documents. The documents are digitized and identified on the platform and the property is posted and made available when it is actually ready for transfer.
Some important innovations of this platform are the 360° walkthrough experience, the production of new floor plans that reflect the reality for each property and the ability to digitally sign the necessary documents both when buying and renting real estate. In the Covid-19 era, Prosperty minimizes the need for physical contact in the purchase and rental of real estate.
Talking to NM, Antonis Markopoulos, co-founder and CEO of Prosperty, points out that innovation and technology can and should be utilized in order to turn the increased investment interest in the Greek real estate market into a measurable growth result for the Greek economy.
According to Mr. Markopoulos, “there are many investors and especially foreigners who do not invest in our country due to the increased bureaucracy and the lack of transparency in the procedures of buying a property. There are also many who suffer for months in order to find a suitable property for rent.”
Prosperty offers a new buying and selling experience to all parties involved, less bureaucratic, more digital and infinitely more cost-effective in time and money for both seller and buyer/tenant. It is an essential new and innovative solution for the market and an important tool for those who intend to sell, acquire or rent a property. Prosperty’s goal is not only to lead in Greece but to also expand to other markets soon”.