UK News

Power of the pink pound: New property portal focused on LGBT

Estate agents are being given the chance to access the value of the pink pound by listing properties on a new portal focused on the lesbian, gay, bisexual and transgender (LGBT) community.

The site, Property Equality, started by listing properties in LGBT-friendly destinations in Spain and is now rolling out in London.

The portal also offers referrals to financial planning and mortgage advisers.

It is run by LGBT Capital, an investment firm that funds social impact projects that benefit the community.

LGBT Capital estimates the value of the pink pound at around £12trn globally and £106bn in the UK, and says there are around 4m LGBT people living in the UK.

The power of the pink pound refers to the willingness of the community to spend money with firms and brands seen as supportive, known as “LGBT allies”, and in areas where there is a thriving community.

Lettings and sales agents can list properties for free but they would need to provide a web or xml feed or enter them manually.

The idea is that LGBT people would come to this site knowing their sexuality wouldn’t be an issue when buying or renting a property, and in some cases the agency may have knowledge of the gay scene where they are looking to make their purchase.

Anders Jacobsen, co-founder of LGBT Capital, said: “We firmly believe that there is a growing demand from the end-clients for estate agencies, solicitors, mortgage and insurance providers to demonstrate their diversity and inclusion credentials – and LGBT typically represents the ‘final frontier’ for such companies.

“Furthermore, when buying outside the area or country of one’s residence, having an access to a growing bank of knowledge with regards to the local ‘gay life’ is something that our anecdotal evidence has indicated to be of significant value for would-be buyers, including of holiday or investment property.

“Consequently, we believe that Property Equality has significant potential in the UK as well as elsewhere.”



Property Industry Eye

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