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Crowdfunders get first payout

Investors using Singapore-based real estate crowdfunding website CoAssets.com are expected to receive their first payout next month.

South East Asia's first real estate crowdfunding site announced yesterday that U.K. property investment opportunity Bastien Jack will be making its first payout in June.

Getty Goh, Chief Executive Officer of CoAssets, said: "As real estate crowdfunding is still in its infancy, we always welcome such positive news.

"As the co-founder of a real estate crowdfunding site, we want to show that platforms like ours can give property developers a viable way to reach out to funders and strategic partners. On the other hand, we also want to show investors that they can use our platform to access and research worthwhile deals.

Goh added that from the property investors' perspective, real estate crowdfunding presents an alternative way to grow their investments. He revealed that during the last networking session for this investment more than 80 crowdfunders pledged investments worth more than S$700,000. Annual returns for this investment are between 9 percent and 11 percent, he added.

"Apart from regular consumers, we are getting attention from several accredited investors, angel investors and boutique real estate private equity funds to use CoAssets to source for opportunities. That is a very encouraging sign as it means that we are starting to get quality deals on the site," he added.

Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg


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