The crowdfunded real estates platform, Housers has raised €1.8 million to construct their second building in Spain.
The crowdfunding campaign raised €1.2 million from 1,278 investors within 54 days.
Another €600,000 will be financed with a mortgage, to completed the investment.
The building will be constructed in the Tetúan district in Spain’s capital, Madrid.
“Madrid is considered at the moment as one of the cities with best growth potential in Europe” says the company.
Spread over 1,200 m2, the building will have 10 apartments, with 10 parking spaces, community pool and garden.
Construction is expected to take 24 months.
Upon completion, the company aims to make €2.3 million in revenues for the sale of all properties.
The company aims to build in strategic cities across Spain, including, Madrid, Barcelona, Valencia and Palma de Mallorca.