Isicrowd, the Italian real estate lending crowdfunding platform was launched
Real estate lending crowdfunding in Italy is in great growth: if in 2019 the collection amounted to $35.7 million (€29.3 million), in 2020 it exceeded $43.9 million (€36 million), and this year, in just 5 months, it has already reached 19.4 million. In this context, a new real estate crowdfunding platform was just launched in Naples, called Isicrowd.
In the already crowded Italian panorama of real estate lending crowdfunding platforms, Isicrowd was just launched. A new portal which, however, shows off the primacy of being the first (and only so far) real estate crowdfunding platform based in the South, specifically in Casoria in the province of Naples, and focused mainly on real estate development projects in the south.
Founded by the real estate and tourism entrepreneur Antonio Ottaiano, Isicrowd is in fact the first crowdfunding platform in southern Italy, whose intent is to extend the business also in the tourism field. A sector that, as you can read on the website, “promises excellent earnings especially in the field of vacation homes, villas, b&b, hotels, timeshares and much more.”
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Isicrowd’s first project is related to a property located in Naples
The company’s prerogative has always been to provide a completely innovative tourism consulting service. And it is precisely the philosophy used at the base of Tecnotravel to inspire the mission of the new generation start-up Isicrowd.
The first project, currently in the collection phase, is related to a property in Naples in Via Provenzale.
The operation involves the purchase of the property, already awarded at auction, its complete renovation with the adaptation of all the rooms and the sale on the open market.
The apartment has already been awarded at auction, at a price of about $1.200 (€1.000/sqm), a figure significantly lower than the average of the area, in fact, the district in question has an average quotation that fluctuates between $2.070 (€1,700) and $2.190 (€1,800)/sqm. This will allow us, once renovated and made qualitatively superior to the apartments in the area, to place it in a market range in the area average, so as to make it more attractive to potential buyers making the operation much faster in the recovery of the investment.
The expected return of the operation is 11% for an expected duration of 12 months
Real estate lending crowdfunding in Italy is in great growth: if in 2019 the collection amounted to $35.7 million (€29.3 million), in 2020 it exceeded $43.9 million (€36 million), and this year, in just 5 months, it has already reached 19.4 million.
The platforms that have completed at least one successful transaction since 2017 are 11, half of which entered the market between last year and this year.
(Featured image by Pexels via Pixabay)
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