The opportunity: what is the residential tourism potential of the Algarve with the growing retirement demographic?
I think most delegates to this conference will already know it is a very substantial opportunity with the so-called ‘baby boomers’ retiring, enjoying 10 years more life than 50 years ago. This group are wealthier now than any cohort before them and they are a demanding, relatively sophisticated generation with a pan-european property perspective. Countries in the warmer, more pleasant Mediterranean sunbelt have seen many northern Europeans move to live part or full time, particularly in the Algarve. A recent CNBC report put at No. 1 the Algarve, out if its top 10 spots to retire in Europe, citing also the average 30% lower living costs in Portugal (important as active income ends), compared to its competitors. The opportunity for the Algarve is now to take this to scale with significant and important steps in resort development along the ‘retirement village’ model.
How to exploit?: can Portuguese businesses:- land owners, developers, financiers, hospitality and care organisations etc – capitalise this growing opportunity?
There is a road-map to success for all these companies and ProMatura helps businesses build the right product at the right price. ProMatura, over the last 2 years, has now established an international office out of London working with clients in the UK, Portugal and many other destinations outside the USA. Our Predictive Analytics can look at (or hypothetically model) any project anywhere in the world and predict what will work, where and why – expensive mistakes are thus avoided. Markets do differ, but our processes work anywhere, backed by the most extensive empirical data available. ProMatura buyer research groups demonstrate high levels of continuing engagement: giving potential to test creative marketing concepts before launch, also to become among the first residents to buy-into a project
Experienced practitioners: what are ProMatura credentials in starting and delivering retirement community projects in Portugal?
We run our business differently to every other ‘research & consultancy’ company in the property sector. We are unique in having spent the last 35 years creating and honing our working practices and data sets, not just in the USA but also now in Europe. We identify and talk to specific customers who may well become your next clients. We have just completed a major research study of several Northern European buyer markets for a Portuguese land owner. We have used proprietary tools to do this. We undertake conjoint analysis that gives a very accurate set of detailed results informing every aspect of what is wanted and will be paid-for on a project. We are justly proud of our international client list, most of which use us on a repeat basis as they move from project-to-project.
Value to the bottom line: how does ProMatura deliver its actions in various markets and why does the Financial Director of your clients insist on hiring you?
ProMatura uniquely plugs the gap in buyer understanding and likely actions: what do actual potential residents specifically want and what will they really pay for it? We remove the guesswork, provide concept ‘insurance’ and have saved our clients many millions $£€ in mistakes over 35 years: our data, analysis and forecasts proven to closely correlate with actual buyer behaviour. Every site is unique and we help unlock the value in it with the right, proven, product mix, cost reductions and advise on prices which has seen successful price uplifts of upto 20%.
We provide the project finance team a sophisticated demand / unit / prices spreadsheet accurately forecasting sales by month for the development which is a great aide in ensuring the project is appropriately financed.