This independent research identifies the elements needed to fully understand the real estate crowdfunding market, its players and trends by looking at the activity of the main platforms, their performance and the characteristics of the projects funded.
By the end of 2023, the global Real Estate Crowdfunding (RECF) market had accumulated € 52.7 billion in inflows, up from € 45.2 billion the previous year. The number of active platforms grew to 159, with 81 in the EU, 23 in the U.S., and 55 in the rest of the world.
In the EU, the RECF market raised around € 12.4 billion, including € 2.6 billion in 2023. France led with over € 1.3 billion, Germany followed with € 538 million, and Italy overtook Estonia with € 180 million.
In the U.S., the market reached an estimated €28.2 billion by the end of 2023, with € 3.1 billion contributed during the year.
Lombardy is the center of development with 37% of proposed initiatives, however, down from 42% in 2022.
L’Italia continua la sua corsa, accelerando la sua crescita e preparandosi all’arrivo della normativa ESCP. La Lombardia è il baricentro dello sviluppo con il 50% dei progetti ma cresce la differenziazione verso altre regioni, soprattutto verso mete turistiche.
Platforms vary by investment type (equity or lending), the structure of lender-fundraiser relationships, fees, and investment liquidity. The lending segment remains the largest source of funding.
In the European market, most projects financed in 2023 are residential (84%, down from 88% in 2022). Commercial properties follow (14%, up from 11%), while mixed and portfolio categories remain minor (1% each).
Geographical distribution shifted in 2023. Rural projects increased to 47% from 39% in 2022, while urban projects decreased significantly (from 58% to 42%). Metropolitan projects saw growth, rising from 4% to 11%.
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