Germany: Munich-based, tech-enabled apartment operator limehome has shared its latest milestones after reporting strong growth in the 2023 financial year, including increasing its apartment portfolio to 6,000 units and expanding into four new markets.
Germany remains the operator’s strongest market – by the end of 2023, limehome had signed contracts for around 1,700 new apartments in the country, representing around 60 per cent of the portfolio with a total of 3,700 apartments.
Shortly before the end of the year, limehome also signed a major new project with 130 apartments in Berlin’s Klosterstraße. Further flagship projects from 2023 are located in Stuttgart-Zuffenhausen and Bremen’s Balgequartier.
In addition to metropolises, where around half of the apartments are located, limehome is also focusing on large- and medium-sized cities such as Nuremberg, Lübeck and Göppingen. The company is furthermore reporting strong growth in Austria and Switzerland, having recently entered the Zurich property market.
Elsewhere in Europe, new locations in Italy, Greece, Portugal and Spain accounted for a third of the new units signed in 2023, while limehome also expanded in the Netherlands, most recently securing two locations in Amsterdam. In Q1 of 2024, 50 units will open in Sl0terdijk, as well as a further 11 units in the centre centre close to the lively Leidseplein.
The apartment provider is growing its footprint in other destinations across the continent such as Rome, Madrid, Lisbon and Athens.
Josef Vollmayr, co-founder and Co-CEO of limehome, said: “2023 was a year full of challenges, but also a year of strong growth for limehome. Our ability to expand in a difficult environment while remaining profitable is a clear sign of our strength and innovation. I am proud of our team and what we have achieved together.
“In 2024, we are ideally positioned to further strengthen our leading market position and expand into new markets. In the long term, we want to offer limehome’s services throughout Europe and beyond.
“Within the next five years, we want to increase our offering to 20,000 apartments,” he added.
In 2024, limehome is planning to establish its offering in markets such as the UK and France as digital apartment concepts continue to grow in popularity among business and leisure travellers.
