Spain's first 'crowdfunded' housing development
Thursday, March 8, 2018 @ 3:35 PM
THE first-ever housing development financed entirely through crowdfunding is about to go up in the Cantabria regional capital of Santander.
A plot of 5,500 square metres, or one-and-a-third acres on the C/ Resconorio has been earmarked for the urbanisation, which will involve an investment of around €2.9 million.
It will house two apartment blocks of three storeys apiece, each with 17 flats, and 51 parking spaces, or an average of 1.5 off-road bays per property.
City councillor for planning and infrastructure, César Díaz, says crowdfunding is 'certainly a new thing' in the housing market but could provide a 'sustainable alternative' to the usual system of bank loans secured on the eventual properties.
Read more at thinkSPAIN.com