1 Jun, 2022 @ 16:30
1 min read

Crowdfunding pays for new homes to be built on Spain’s Costa Blanca

Crowdfunding Pays For New Homes To Be Built On Spain's Costa Blanca

A Denia housing development will go ahead thanks to €4.6 million raised from over a thousand commercial investors via the Urbanitae crowdfunding platform.

63 apartments will be constructed- five minutes walk from Les Rotes beach.

The development will include a garage, storage rooms, a garden, swimming pool and social club.

Impression
OVERHEAD IMPRESSION

1,072 investors backed the project from Inmobiliaria Espacio with a starting price of just €500.

They each become a partner of the promoter which allows them to get rent or even a lump sum when the homes area sold.

The capital will be used to pay the start-up costs of the project named as l’Alqueria, until Inmobiliaria Espacio obtains a bank loan to finish things off.

The urbanisation will have ‘all the necessary services for day to day’ according to the promoter with ‘affordable prices and common areas’.

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Alex Trelinski

Alex worked for 30 years for the BBC as a presenter, producer and manager. He covered a variety of areas specialising in sport, news and politics. After moving to the Costa Blanca over a decade ago, he edited a newspaper for 5 years and worked on local radio.

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