Following the launch of Swiss-Crowd, entrepreneur Augusto Vecchi has announced the launch of Italy-Crowd: a real estate crowdfunding platform for Italy. Â Italy-Crowd, operating out of the same offices in Switzerland, is the first real estate crowdfunding site targeting the Italian market.
In a recent article published by il Sole 24 Ore, Italy-Crowd is described as a hybrid platform as the Italian crowdfunding regulations, Consob, are not accommodating for real estate sites as it is too restrictive and targets only startups. Â The article notes the rise within the United States of platforms such as Prodigy Network, Fundrise and Crowdstreet but Italy has not experienced the same type of growth. Â Italy-Crowd hopes to change this with a platform that acts more as a “shop window” but will not collect or transfer any funds. Â At the end of a crowdfunding round a meeting will be convened to connect investors and property owners, along with professionals necessary to complete the transaction – and final details will be hammered out.
Vecchi described Italy-Crowd as;
“…[catering] only to a target of Italian investors or foreign high-profile investors both for the scale of investment, and for the quality of the proposed projects, among which there is also a marina in Luguria, in Sarzana, with adjoining holiday park. But it is a project suitable for those already familiar with the management of the company and seeking a business in which to invest. “
The Sarzana Marina is listed at EUR 18 million. Alongside the marina on the Ligurian coast are a farmhouse in Tuscany for EUR 2.7 million and a future apartment complex in the ski resort of Courmayeur for EUR 13 million.