The well-known Netflix agency The Agency is now in Portugal.

The well-known American luxury real estateagency The Agency, famous for the Netflix series "Buying Beverly Hills," is expanding its operations in Portugal and plans to hire 30 people with the goal of raising 500 million euros in its first year of operation.

The agency's partner manager in Portugal, Aires Neto, explained in his written proposal to Lusa that "the Portuguese real estate market is very dynamic and has been growing exponentially in recent years."

According to Neto, "Portugal is one of the preferred destinations for foreigners to live and invest, so when The Agency outlined its expansion plan, Portugal was one of the first countries to be prioritized." He also emphasized that the luxury market is growing at a national level.

Aires Neto noted that Portugal has a high level of English proficiency and attracts people due to its climate, safety, economic and social stability, gastronomy, cultural heritage, and unique natural resources. He also highlighted the high quality of public and private education, as well as the healthcare system. Furthermore, Portugal serves as a gateway to Europe, especially for citizens from other continents.

Neto reported that the goal for the first month of work is to acquire "100 real estate properties worth 200 million euros," and the company plans to start its journey with a team of about 30 consultants.

In Portugal, the agency's first office is located on Barata Salgueiro Street, near Avenida da Liberdade, as the group considers Greater Lisbon to be its primary market.

“However, Portugal is not just Lisbon, and there are many regions with diverse offerings that are attractive to clients of The Agency. Therefore, our company is currently represented in both the Algarve and northern Portugal with agents who are familiar with these geographical areas,” noted Neto.

He also reported that the expectations for the first year of operation are "huge" and the goal is to attract "more than 1,000 properties with a total value of around 500 million euros and to achieve revenue of between 6 to 8 million euros." Additionally, during the first year of operation, the company plans to expand its presence on the continent by opening new physical offices. It is expected that the second office will be located in Cascais, and in 2024, The Agency plans to enter the Algarve and Porto markets.

The Agency, founded by Mauricio Umansky, is currently represented in the USA, Canada, Mexico, Caribbean countries, and the Netherlands, both through its own offices and in a "semi-franchise" mode, according to Neto.