The Agency opens Lisbon office

 In Luxury property, News, Real Estate

The US real estate agency The Agency which features in the Netflix programme ‘Buying Beverly Hills’ has opened an office in Lisbon.

The Agency, which was founded by real estate entrepreneur Mauricio Umansky, has opened the office with 30 estate agents with the target of netting 100 properties worth €200 million in the first month.
The timing of opening an estate agency in Portugal is no coincidence since there are more and more US citizens moving to Portugal. In just 10 years the number of US citizens moving to Portugal has tripled to 6,921. (2021)
The brand, through a franchising model, will open four offices – Lisbon, Cascais, Porto and Algarve – and already has 30 staff. The aim is to make between €6 million to €8 million in the first year of operation in Portugal and have a property portfolio worth €500 million.
“We’ve understood that Portugal is a gateway into Europe”, said Ayres Neto, managing partner of The Agency Portugal in an interview with ECO Online, with “immense demand for properties in Portugal from Californians who love the climate and other characteristics of the country”.
Despite the interest from Americans, he says there isn’t just one client profile. “Fortunately, in Portugal we can find properties to meet all kinds of needs and requirements”, he said.
Ayres Neto adds that in the top premium segment in which The Agency operates “clients are looking to live and not just invest in Portugal”.
The Agency will start off by opening an office on Lisbon’s Avenida da Liberdade and a second by the end of the year in Cascais. This will be followed in 2024 by a third office either in Porto or the Algarve.