Investors have crowdfunded £30m worth of property – and £10m of those shares have now been resold onto other investors.
Crowdfunding platform Property Partner has traded more than £10m of shares on its ‘property stock market’ since launching in January 2015.
Investors have crowdfunded £30m worth of property – and £10m of those shares have now been resold onto other investors.
Dan Gandesha, founder and chief executive of Property Partner, said: “Our vision has always been to enable a more democratic way of investing in residential property.
“Anyone can now easily buy shares online in multiple flats and houses - once the exclusive preserve of big institutions and the very wealthy.
“But investors also have a viable exit on our resale market where they can trade their shares far more quickly than if they owned the properties outright.
“Interestingly, while many traditional property funds suspended trading immediately following the Brexit vote, we were still open for business.”
He added: “Although property should be considered a longer-term investment, we’ve now seen more than £10m of cash returned to investors’ accounts with the majority of that then reinvested on the platform. This demonstrates that our ‘property stock exchange’ is functioning exactly as intended.
“Focusing on core functions, we’re now scaling the business rapidly as more people are waking up to the fact that the financial rewards of traditional buy-to-let are getting slimmer, with profits increasingly squeezed due to recent tax changes and tighter lending criteria. Savers are also suffering with negligible returns on high street bank accounts.”
Property Partner launched in January 2015.
