Crowdfunding platform Bulkestate has already attracted to Latvian properties investors from 25 countries

Almost a year ago was opened the first real estate crowdfunding platform in Latvia - Bulkestate.com; it attracts crowdfunding for implementation for local and foreign property transactions, as well as offers an option of collective purchase in the area of real estate. Currently the small start-up has expanded by attracting investors already from 25 countries across Europe and the world within almost a year for financing loans.

Real Estate News, Real Estate

Real estate crowdfunding platform Bulkestate.com began its activity in last December successfully starting with the first two objects based in Riga on Ernestines Street 37 and Dzirnavu Street 132. “Sale of the first two objects proved that the market has approved viability and usefulness of such a concept, and it has become an interesting option for investors to gain profit and for real estate developers to offer investment objects,” emphasised Mr Igors Puntuss, Member of the Board of Bulkestate.

During the first half of 2017, restructuring of the company took place, and in August it renewed the operation with new strength. Creators of the platform view their current activity as successful. “Fully the platform works only for approximately three months, when four more projects have been financed. Attraction of financing for the fith object also takes place with success. In total, there are seven projects of which six are located in Latvia, and the seventh, owned by a resident of Latvia, is located in Bulgaria,” explain the creators of Bulkestate.com, and add that the first projects have already been repaid. Moreover, most (approximately 90 %) of people who invested funds in financing the first properties have afterwards made repeated investments.

Initially investors in properties were from Latvia; however, after restarting the operation of platform, it has been possible to attract foreign investors as well, for example, from Germany, Austria and many other countries across Europe and the world. As a result, currently projects offered by Bulkestate.com investment platform have attracted investors from 25 countries, and the total amount of investments has reached EUR 368 thousand.

Creators of Bulkestate.com state that after the successful restart the goal is to continue active publication of new offers on the platform and to increase the customer database, thus also attracting more investments. Expressing cautious assessment, minimum goal of investment volume to be reached within the next six months would be one and a half million euro. In addition to investment projects, soon will be updated also collective purchase option of real estate which will speed up the processes of purchase and sale for property owners and will let the buyers to acquire a property for a price below the market value.

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