Real estate mass financing is rising, due to attractive interest rates for investors and the funds it offers to promoters, but the market remains closed.
When interested in participatory real estate financing, it is better that we are fast. "During the loading and the moment when the trail is collected, it sometimes takes only one to two hours"explains Louis Raverot, Wiseed Regional Director for Real Estate, a leading industry platform.
But he feeds: "All documents that understand the project are available at least two days before, while we answer all questions to the dedicated forum."
Far from massive financing for small initiatives, companies or associations whose collections rarely exceed ten thousand euros, real estate projects in 2018 averaged an average of 540,000 euros in loans. from Hellocrowdfunding. With an average interest rate of 9% over two years for investors.
They need to invest a minimum amount of a few hundred euros, which depends on the rules of the platforms.
The first operations took place in 2014, now the main sector of participatory financing, as according to the barometer Participatory Financing France in 2018, more than EUR 200 million. Slam in 29 billion, invested in French real estate in 2019, according to Knight Frank.
Most of the bids submitted are directly financed by the construction project. But the offer said "Corporate"where the money is returned to the company, it is growing.
"It's a shame because the transaction is less transparent, we do not know exactly where the funds go", says Céline Mahinc, asset management consultant. Why are developers willing to accept such high interest rates? "Without mass financing, I would divide my activities into three."He provides Laurent Mathiolon, leader of Aqprim, who twice used mass financing, and deals with him for the third time.
"It allows me to get funds to fund projects with banks. In addition, it is very fast, a few weeks after the revision and validation of the platform."
Many projects are available to platforms that make a rigorous choice. "Take less than 5% of the proposals that reach us" says Vincent Sillègue, Chairman of the Coregraffe, which was set up in 2014 and began to implement 42 real estate programs.
Its platform claims to be related to banks, especially in Ljubljana "Project Support", evidence of synergy between these two sectors.
"Lack of knowledge about this method of financing and the fact that a lot of data is transmitted in project demonstration documents can also delay some promoters"Laurent Altmayer, the founder of hellocrowdfunding, who closely monitors the market, analyzes it.
The aim of the selection is to avoid the reproduction of Terlat's bankruptcy bankruptcy quake in 2017, causing one of the projects to completely lose funds. This is the only case of non-refoulement in France.
There are more frequent delays, which relate to almost 10% of the projects, following the massive barometer.
"When there is a delay, communication is slower, even for people who have invested. Platforms generate as little noise as possiblementions Altmayer.
"The level of livret A is 0.75%, therefore, the essential level of 9% means that there is a risk"adds Céline Mahinc. "But for me, this does not seem excessive to me."
"You have to take the time. Before committing yourself, make sure the offers are favorable, check that the platforms are well-approved, and obviously diversify your investments", advises.
Especially because the market remains young. The first calls for projects started in 2014, the first reimbursement in 2016. "Now you can not start real analysis", says Altmayer.