All revenue streams contributing as BoligPortal reports 10+ per cent revenue growth

BoligPortal, Denmark’s largest portal for rental housing, generated revenue of DKK 46.4 million in the first six months of 2022, for a satisfactory growth rate of 10.2 per cent relative to the same period of 2021. New products and growing income from advertising rental units in the platform’s marketplace were the main drivers of growth, supported by management’s consistent focus on executing plans and creating results.

“The progress we’ve made is rooted in the sound operation of our core business, and all our revenue streams are contributing to growth. Consistent good growth is a sign of a sound and strong business,” says Anders Hyldborg, CEO of BoligPortal.

CEO Anders Hyldborg, BoligPortal.

Two highlights gleaned from the interim report reveal a 167 per cent increase in sales of new products and services in the second quarter, while in June, BoligPortal set a new record for partner-driven offers to tenants and landlord advertising as well as for the number of signed move-in/out inspection reports and rental contracts. The impressive development came on the back of a general market improvement, following a drop in the availability of flats during the second half of 2021. The number of ads in the marketplace increased, and more landlords purchased supplementary services.

BoligPortal offers the largest selection of attractive rental homes and serious would-be tenants, and the company provides a tenant match for more than 100,000 housing units every year. In addition, boligportal.dk attracts more than four million visitors annually. The site is going all in to transform from a marketplace into a full-scale rental property platform. The transition generates new opportunities via the access to invaluable data and new knowledge which, suitably packaged, may be a valuable resource for professional players in the rental housing market.

“Our newish product, Data Insights, is based on our unique data. This is data about behaviour in the market that can tell us rather precisely what will be built, where it will be built and what constitutes the perfect dwelling corresponding to demand. We can use it to describe the past, the present and, not least, the future of Denmark’s rental housing market,” says Hyldborg.

Integrity breeds integrity
At BoligPortal’s head office in Aarhus, management’s focus is on making the business more transparent and relevant to everyone, including by introducing new ways of collaborating to strengthen the organisation even further. These are initiatives that involve everyone from the shop floor up, and when Hyldborg says everyone, he means EVERYONE!

“No one in our organisation is afraid of sharing their knowledge. We’ve devised a plan, a clear scope and simple targets that apply to everyone, and with that our staff are given a free hand to complete their assignments. That way, our business evolves through the way we collaborate, and we’ll produce better results,” says Hyldborg.

For Hyldborg, this equates to pursuing integral collaboration and cohesion combined with a management style based on empowering people to act with integrity and a belief that together we can complete the assignments at hand.