realestate.com.au has continued to expand offshore with its third European purchase in 14 months, buying the atHome group of real estate sites for ?4.5 million ($AU7.5 million).
atHome operates five real estate sites covering Luxembourg (residential and commercial sites), the Wallonie region of Belgium, the Lorraine region of France, and the Trier region of Germany. Over 500 agents use the sites; the business is profitable and is rapidly growing.
The atHome websites including atHome.lu: atOffice.lu: atHome.be: atHomeLorraine.fr: atHome54.de.
In addition, atHome has 51% equity stake in Altowin, a leading provider of office management tools for real estate agents in the Belgium market.
atHome also partners with RTL (Radio Television Luxembourg) to provide real estate television and radio programming in Luxembourg.
REA Group’s managing director Simon Baker said the acquisition of the atHome group of sites continues to build out the group’s European operations by providing the REA Group with a presence in four new markets.
Baker said the REA Group will work with atHome’s management team to solidify its market-leading position in Luxembourg and to continue to drive its expansion into Belgium, and selected regions of France and Germany.
Australian Property Journal
