Property Partner, a residential property investment crowdfunding #platform, just launched in January this year but it now has about 3,000 investors using its platform. It has raised over £6M for various buy-to-let properties within seven months since it started operation. Approximately 63% of the investors on the platform have purchased shares in more than one property, with investments ranging between £50 to £100,000.
There are 23 different residential properties that have been listed on the Property Partner platform to date. The properties are of different types and sizes, and include flats and houses located in different areas. All these properties have been fully crowdfunded in just a few days after they became available for funding, with the average crowdfunding period of just nine days.
Just recently, the company crowdfunded its most expensive property, a 2-bedroom flat in Tower Bridge. The offering went online at around 1 pm and 35 minutes later £509,600 had already been raised.
The platform investors are allowed to invest in individual properties, the same way they can with company stocks. They receive monthly rental income and any capital growth benefits are calculated as a percentage of their ownership. The platform also has a designated secondary market called a property stock market, which allows investors to sell their property holdings to willing buyers. Shares worth about £1M have already been traded on this market.
…individual investors have the opportunity to diversify their investments across various residential properties within a few minutes
Dan Gandesha, CEO of Property Partner, said that their achievement is largely attributed to the rapid growth of the number of investors on their platform. Through the platform, individual investors have the opportunity to diversify their investments across various residential properties within a few minutes – something that was previously very difficult and expensive when done individually.
The recent Budget announcement made by George Osborne that there will be a cut on mortgage interest relief for traditional buy-to-let landlords further makes Property Partner a more appealing platform for residential property investments.
Featured Image credit to: propertypartner.com