Almost 3,000 investors have crowdfunded more than £6m worth of buy-to-let property on one platform alone since its launch early this year.
Property Partner has listed 23 properties on its platform this year, ranging from flats in Whitechapel and Woking to houses in Hounslow and Hayes. It has taken an average of nine days for each to be crowdfunded to allow the property purchase and, if appropriate, its refurnishment and preparation for tenants.
The site claims that nearly two thirds of it investors have bought shares in multiple properties with individual investments ranging from £50 to over £100,000.
Last month, a two-bed flat in Tower Bridge – its most expensive property to date – went online at 1pm and by 1.35pm the fund raising total of £509,600 was reached. The site claims investments were coming in at a rate of £242 a second.
The platform allows individual investments which secure returns in proportion to the share of the overall property that is purchased. Investors can offer their property holdings for sale via a designated secondary market.