Wednesday, October 20, 2021

Czech mid-term lettings platform Flatio expands into UK


The PropTech company aims to have at least 10,000 UK property listings in the next three to five years

Flatio, a Czech-Republic-based mid-term lettings platform, has announced that it has acquired digital nomad housing marketplace NomadX in a move worth £3.6 million.

The deal will see Flatio take on NomadX’s inventory of apartments, staff and social platforms as the company plans to accelerate growth in the UK. The PropTech company, which turned over £4.5 million last year, aims to have at least 10,000 UK property listings on its inventory in the next three to five years.

As part of the deal, all property listings, management and transactions will be centralized on Flatio’s technology platform after a transition period of several weeks.

While the NomadX-branded housing marketplace will continue to exist, it will be powered by Flatio and expand to all of Flatio’s markets.

Flatio currently has 9,000 listings across 17 countries and 60 cities, while NomadX has 1,700 in Portugal alone. Both startups, though, planned expansion in the UK before the pandemic hit.

We noticed a lot of interest from the UK during the pandemic, Flatio chief executive Radim Rezek said.

It seems that a combination of uncertainty and more remote working opportunities is creating a boom in the mid-term rental sector. We only have 150 listings in the UK at the moment, but plan to ramp this up significantly in the next three to five years as we believe the demand for affordable mid-term lets will continue to grow in the UK and globally post-pandemic, Rezek said.

He added: If we compare data three months before the pandemic hit to three months after, we’ve seen almost a 60% rise in visitors from the UK to our platform. This shows there is a real desire for one-six month rental properties both in the UK and overseas.

NomadX already has a significant database of digital nomads, including many from the UK, so we hope the move will accelerate growth and establish us as the number one medium-term letting platform in the world, he said.

Flatio says it has recorded 100% growth in revenue from its best-performing cities, 20% growth in global bookings, and more than 30% growth in landlords across all markets, when comparing the first three quarters of 2019 with the first three quarters of 2020.

The platform offers month-by-month lettings to allow professionals, students and remote workers the opportunity to live in over 60 cities and 17 countries around the world, including Prague, London, Vienna, Paris and Budapest.

It operates in a similar way to Airbnb, but it doesn’t charge deposits and relies mainly on individual landlords, which make up 78.5% of its listings. Other features include unified lease agreements, bilingual lease agreements, online lease signing, 360 VR tours and a smart-pay app that enables landlords to know when they’ve received payment and alerts tenants when rent is overdue.


The articles are for information purposes only and Invest for Property shall not be held responsible for any errors, omissions or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date.

Invest for Property does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this website, or losses or damage you may incur doing so.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Please remember that investments of any type may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

Leave a Reply

thirteen + 3 =