Estonia, Good for Business, Investments, Real Estate, Technology
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Thursday, 28.03.2024, 15:10
Rental real estate crowdfunding platform starts operating in Estonia
Unlike the
crowdfunding platforms that have been operating on the market so far,
BitOfProperty does not finance real estate development loans, but gives
investors the opportunity to enter at the next stage of investment, that is in
the purchase of a specific real estate object, the company said.
The investors can directly invest in the chose
apartment or commercial premises and earn a profit both from the rental income
as well as from the price increase of the real estate.
The opening investment of the company is a rental
apartment in the SpaceCube residential building being developed by Scandium
Kinnisvara at 60 Ehitajate Street in the Mustamae district of Tallinn.
The average length of the investment period of
BitOfProperty is three years, but depending on the characteristics of the
project it may fluctuate between two to seven years. The length of the
investment period is set during the preparatory period of each project, that is
before the involvement of money.
At the same time, the portal is to soon also offer
liquidity -- a secondary market for all investors will be opened in the first
half of 2018, where it will be possible to sell one's holding and if desired,
exit the investment earlier.
The next projects of BitOfProperty will be revealed at
the beginning of 2018.
BitOfProperty OU was founded in 2015 and is owned
by Sten Suurmae, Taavi Pettai and Timo Kaus.