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HISTORY OF DUNA HOUSE GROUP

2001- First agency

In 1998, the Company established their first real estate enterprise to provide consulting services to foreign investors. At that time the Hungarian real estate agency sector had been underdeveloped with no agency networks. In 2001, the Company started up a small residential real estate office with few sales agents targeting primarily Hungarian customers. After the successful operation in year 2002, the single-office company has opened two new agencies in 2003.

 

 

 

2003- Launch of the franchise model and network

Recognizing the importance of the network in the real estate business and in order to reach sellers and buyers extensively, in 2002 the Company have begun the preparation of a foreign model based real estate network, taking advantage of the favorable market environment and the professional experience acquired over the years. The network eventually was launched in 2003.
 
The franchise model opened the way to fast expansion in the number of agencies. The operative managers’ experience acquired during the everyday work greatly contributed to the successful development of the franchise system developed involving the franchise partners as well. Next to Budapest, the Company has begun to expand the network in major Hungarian towns with new agencies in the cities of Debrecen and in Szekesfehervar in 2004.

 

 

2004- Comprehensive real estate sales services

In 2004, Duna House Group has set the strategic goal to extend its activities and offer a comprehensive range of services for home sellers and buyers. Within the framework of the new strategy, next to real estate agency and real estate management, Duna House has introduced also loan, insurance and other financial services, as well as property appraisal services. By 2008, the Group has become a comprehensive supplier of real estate sales related services, serving customers in almost 100 agencies through every phase of the real estate buying and selling process, supporting successful transactions. In 2011 the range of new activities continued to expand with energy certificate management.
 
The new strategy has proven to be successful and by now real estate sales related services -especially financial products- account for a significant part of DH Group’s activities.

 

 

 

2008-2013 – The global financial crisis

In spite of the sudden effect of the global financial crisis in September 2008 setting back real estate transactions dramatically – from an annual 191 thousand to 91 thousand in just two years, according to KSH (Hungarian Central Statistical Office) data from 2007-, Duna House’s business performance has not dropped. In the first years of the crisis, the Duna House management concentrated on the main pillars of its business activities, with a primary focus on efficiency increase, sales support, and the training of franchise partners and agents. Duna House, as a result of the innovative way of thinking and solid business model, has been able to increase its market share and the number of transactions despite the unfavorable external conditions caused by the years of the global crisis. Since 2008, the Company has increased its market share by 100% in real estate sales, and by 250% in home equity loans.

 

 

 

2010- International strategy

By the beginning of year 2008 Duna House Group’s management has decided to expand its activities towards other countries. Its initial plans were halted due to the global financial crises but in 2010 the company group has agreed upon a moderate foreign market expansion, entering the real estate market of the Czech Republic.

 

 

 

2014- The Multi Brand strategy

As a result of the recovery of the real estate market, the Company has continued to expand the scope of its activities in different directions, one being the development of a multi-brand system. The Company, while keeping up and supporting the existing brands, has begun the development of a multi brand real estate agency system. In October 2014, a new franchise was launched under the name SMART Real Estate. SMART Real Estate by now has become to be a dynamically developing brand which Duna House intends to build up to a market leading position. SMART Real Estate offers the possibility for small real estate agencies to join the Group’s system, who then enjoy the benefits of belonging to a market leading player and at the same time maintain their operational flexibility.

 

 

 

2014- Real estate investments

Between 1998 and 2005, the Group had been very active in real estate investment activity. Taking advantage of the real estate market growth the Group has also been engaged in real estate development in the years between 2006 and 2008. Evaluating the sings of a positive real estate market in 2014, Duna House has turned towards increasing its real estate portfolio again.

 

 

 

2015- Real estate fund management

At the beginning of 2015, the Company established the Impact Asset Fund Management Ltd., a company planned to operate as a real estate fund management company.

 

 

2016- Year of growth

On 20th April, 2016, Impact Asset Management Ltd., in the exclusive ownership of Duna House Holding, obtained the permission of the Magyar Nemzeti Bank (the central bank of Hungary) to execute fund management activity.
 
Impact Asset Management Ltd. has established Hungary’s first public, open-end residential property asset management fund. The application process, during which investment fund shares valuing HUF 1.02 Billion were sold, was closed on April the 3rd 2016. The sales of investment shares will continue in the future, and we believe to be able to serve our investors with a significantly bigger Fund.
 
On September 2, 2016 the Holding gained majority ownership of shares in Duna House s.r.o in the Czech Republic, by which the Holding became the owner of all the members of its network in the region. 

In March this year a survey carried out by NRC showed that Duna House brand value is strong among real estate agencies, overtaking its rivals both with the 32% spontaneous and 69% aided brand awareness, as well as with its 11% anytime contact ratios.

 

 

 

 

 
 
Relations for investors:
  • Address:
    1016 Budapest,
    Gellérthegy utca 17.
  • Phone:
    (36) 1 555 2222
  • Fax:
    (36) 1 555 2220
  • E-mail:
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