The current outstanding portfolio amounts increased from €220,3M (at the end of 2021) to €291M as of the end of 2022. Our revenues were €8M in 2022, an increase of 12% compared to 2021 (€7,1M)
14 702 new investors joined us from our operating countries and 30 158 from non-operating countries (the biggest groups were from Spain, Italy, and Greece). We had a total of 153 800 investors by the end of 2022, which is a 37% increase compared to the previous year. Back in 2021, we welcomed 13 900 new investors from operating countries and 42 000 investors from non-operating countries (the biggest groups were from Spain, Italy and France). Our investors earned €18M of interest during 2022 versus €14,9M in 2021. We financed 1769 projects in the amount of €183M during 2022 compared to 1072 projects in the amount of €203M in 2021. The average return on repaid loans in 2022 was 10%.
“Throughout the year 2022, Estateguru demonstrated its flexibility in turning its expansion-oriented approach into an efficiency focused business model. The corporate focus and commitments for 2023 are to resolve the German and Finnish legacy portfolio, to maximise returns for investors, and to focus on sustainably growing origination strategy and investment in the Baltics,” commented Mihkel Stamm, Estateguru’s new CEO since December, 14 of 2022.
“Overall, it’s been a tumultuous year. Adjusting to volatile macroeconomic conditions has presented many challenges. Switching from a growth to a sustainability mindset and downsizing our operations in certain markets has not been easy, but with adversity comes the opportunity for learning, and growth of a different kind,” added Stamm.
“Recent events have tested our business model and also proved it sound. It proved resilient during the pandemic and proved so again during 2022. We are at the cutting edge of our industry, and these experiences will help us to further refine our approach. We believe that we are well positioned to take advantage of the many opportunities our model offers moving forward. We are not affected by the rising Euro Interbank Offered Rate, so we expect to see a further increase in appetite from borrowers looking for quick and flexible financing.”
Investment in Real Estate continues to be an attractive proposition for investors looking to mitigate the effects of inflation and passively grow their wealth. Our loans are especially attractive, as 98% of them are secured by a first rank mortgage, and an average LTV less than 60%.”