Sicily is the top Italian region in terms of the number of real estate crowdfunding transactions dedicated to the regeneration of villages, with 15 projects undertaken on ITS Lending, the Italian real estate lending crowdfunding platform for the revitalization of historic villages.
The 15 crowdfunding campaigns, 13 of which have been completed and two are in the pipeline, concern the creation of structures for residential use, small and medium-sized, and a coworking and residence for foreign university students to be built in Mussomeli, in the province of Caltanissetta, a village that totals the majority of real estate transactions: eight completed, one in progress and two in the starting phase, followed by the two completed for Salemi (Trapani) and two more for Petralia Sottana (Palermo).
In all cases, these are real estate lending crowdfunding initiatives, where investors lend funds to finance the renovation of the property, against an interest rate (between 9 percent and 10 percent gross, roughly, on an annual basis) that will be recognized, along with the capital invested. Projects that have also been able to attract the attention of foreign stakeholders and enliven the local economic fabric, starting with the restoration of historic centers.
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“Our administration, since its inauguration, has always been committed to promoting projects of urban regeneration and revaluation of the historic center,” said Giuseppe Catania, mayor of Mussomeli. “Among these, certainly of note is the one born from the collaboration with ITS ITALY for the redevelopment of a property, through a crowdfunding campaign on ITS Lending, to be used as a coworking space for foreign and Italian students. A number of companies have already submitted bids for this project, which is now at an advanced stage, and work will begin shortly. The intervention, on a building that in the recent past also housed a small food store, involves the creation of coworking spaces and rooms equipped with all comforts and such as to ensure the good stay of students from all over the world.”
“We are excited about the growing interest especially from abroad for the villages of our Italy,” said Salemi Mayor Domenico Venuti. “The partnership with ITS ITALY, thanks also to tools such as ITS Lending crowdfunding, is proving to be a valuable tool for urban regeneration and the desired fight against the depopulation of small towns.”
Who is ITS Lending
ITS Lending, whose operator, Crowdvillage, is a subsidiary of ITS ITALY, a lifestyle company established in London in 2020 to promote investments in Italian villages and historic centers was born about a year ago (November 2021). So far it has closed 22 real estate deals, in southern and central-northern Italy, raising a total of €1.37 million and an average of 24 investors, who contributed an average investment of €2,000 and an average gross rate on an annual basis of 9.3 percent.
The portal, which features simple and intuitive modes of operation, boasts, among its strengths, the security offered to individual investors: the properties to be renovated have already been acquired by the real estate company proposing the opportunity, and, in the event of a waiver of the purchase, mechanisms are activated to guarantee the investment.
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First published in Crowdfunding buzz, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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