Great news! Idealista has been sold for € 1,321 million. The EQT fund has bought the Idealista group from Apax partners. Big news! Well, at least for the Spanish proptech world. Idealista is the first Spanish proptech unicorn.

Some people think that this purchase has nothing to do with the sector and will not affect it. In my opinion, this is not true. Undoubtedly, this acquisition represents a giant step for proptech. One of Spain’s most representative real estate companies, the leading portal, has made this leap, putting the rest proptech companies in a privileged position. This operation means that this sector is beginning to emerge strongly. Investors see a bet on the present (and in the future) the technology applied to this sector that generates more than 10% of Spain’s GDP. This acquisition will drag down many other companies in the industry. Not only direct competitors but many others directly related to the portals, such as the image recognition companies, valuations tools, and others. There is a whole ecosystem around this, our first Proptech Unicorn, and we must take advantage of it to enhance it.

We must continue working to generate more attraction for funds capable of investing sums to make qualitative leaps, which end up being improvements for the client.

Gustavo Lopez

Operations Director at the Real Estate Agents Association in Catalonia