Chestertons (UK) Expands Internatioanal Footprint
07 May 2021 - Global estate agency, Chestertons Global Franchise Holdings Limited, today announced that Chestertons Cyprus has joined its expanding network, which has seen rapid growth over the past year.
Since Chestertons Ionian, headquartered in Corfu, was welcomed on board as the first Global Franchise Partner in early March 2020, the business has gone from strength to strength, with new teams joining the Chestertons network in the following locations: Barbados, Antigua & Barbuda, Portugal, Morocco, the Costa del Sol, Gibraltar and now Cyprus.
Chestertons Cyprus, headed up by Principal Andrew Constantinou, has launched its first office in Paphos, with plans for additional offices in the works. With the Portugal and Costa del Sol openings bringing five offices apiece to the network, the new franchise offering has secured 16 offices in total to date, increasing the number of property listings on the global business’ books by 300%.
The expansion of the franchise business means Chestertons’ geographic reach (in terms of physical office presence) has expanded from 15 countries in Q1 2020 to 21 today, an increase of 40%.
Jamie McMullan, Chief Operating Officer, Chestertons Franchising UK & Europe, comments: “The marketing, technological and brand heritage clout which we offer our partners has proved highly attractive, equipping them with the network and tools to enhance their services. The franchising model also offers local experts the chance to grow their businesses, with the backing of a global network of expertise and support.
“Building on the impressive growth seen over the last year, our franchise offering is attracting interest from across Asia, the Americas and additional European locations. We continue to be on the lookout for like-minded partners that can share in our brand, technology and extensive international network.”
The Global New Homes team has also reported significant growth over the last year, as it strives to work with the most prestigious developers on globally renowned projects. In 2020 the team, headquartered in Dubai, introduced seven additional new homes desks including in Hong Kong and Qatar, further expanding their network of lifestyle purchasers and investors.
The number of locations marketed by the Global New Homes team on a country basis has increased by 30% in the last 12 months to now include Japan, Thailand, Greece and Cyprus. The volume of new developments on the team’s books is up 40% since the first quarter of 2020, and includes the exclusive marketing in the Middle East and North Africa region of Fairmont Royal Palm Marrakech, and working with the likes of Barratt London and EcoWorld to launch homes to markets in the Middle East.
All-in-all buyer enquires for new homes are up 15% annually (Q1 2020 vs Q1 2021).
Dennis Chan, Global Head of International Sales, comments: “Appetite for real estate remained robust over the past 12 months, albeit in a challenging global environment amid the pandemic. With vaccination programmes underway, there is now a sense the pandemic is easing and, with the possibility of international travel resuming over coming months, buyers can take advantage of citizenship programmes, remote working visas, or financial incentives offered by developers in sought after destinations across the world.
“In this context, our clients and buyers have seen renewed value in our offering, which deploys our global team’s diverse skillsets to make their lives as straightforward as possible in what can be a complex process.”