The CNMV Approves Housers As A RE Platform

9 May 2017 – Cinco Días

Housers markets itself as “the leading real estate investment platform”, which allows users to invest in property in the best areas of large cities for as little as €50. It pays rental income to its users and allows them to benefit from the appreciation in real estate prices when the property they invest in ends up being sold.

It is the largest platform in the sector, with more than 42,000 users, of which around 40% have already invested. Since it began life in April 2015, its users have invested more than €22 million. And, following extensive negotiations with the CNMV, the platform has now received approval from the supervisor chaired by Sebastián Albella. (…).

Sources familiar with the situation say that, since the beginning, Housers has been in contact with the supervisor, chaired in theory by Elvira Rodríguez, and then its conversations intensified with Sebastián Albella. In this way, the problem with Housers was that it joined together fund-raising activity with the promotion of that activity, and that was not permitted by law.

Sources close to the entity explain that the platform has spun off both activities. (…).

As such, Housers Global Properties will now be called Housers Global Properties PFP SL. In an email sent out to its users, the firm explained that since it began operations in April 2015, it has managed to finance 92 properties: 73 in Madrid, 9 in Barcelona, 7 in Valencia, 1 in Marbella and 2 in Palma de Mallorca.

Housers generates a return, known as a dividend, which varies by project, but the historical average amounts to around 3.6%. On the firm’s website, it advertises a return of 6.6% from investing in Zurbano. In addition to the rental income, investors benefit from rises in property prices, amounting to more than 12%, on average.

Sources close to the platform highlight that its mantra is to obtain certainty around its investments, which is why it has to buy homes in central areas, as a way of saving. Its core cities are Madrid, Barcelona, Valencia and Palma de Mallorca. Housers mainly invests in housing and retail premises for rent, as well as in properties for renovation and subsequent sale. (…).

How does the platform earn money? Housers charges a 10% commission on the dividends it pays out, as well as on the proceeds from its property sales. (…).

Original story: Cinco Días

Translation: Carmel Drake

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