Project selection
The platform analyses the developer, the property, the LTV, the guarantees and the sales plan.
Real-estate crowdfunding guide 2026
Real-estate crowdfunding:lending to developers,with guarantees.
9% to 12% target return, 12 to 36 months, a mortgage or a personal guarantee. The comparison of 18 platforms, the guarantees that really protect you and the risks to know before you subscribe.
- Investing since 2017
- 18 platforms monitored
- From €1
Sample project
Residential renovation · Lyon
Illustrative example · November 2026
Target return
10.5%
before tax and losses
Term
24 months
extendable
Ticket
€1,000
sample subscription
LTV
60%
safety margin
Project LTV60%
Guarantee
First-rank mortgage
Capital stays locked until maturity. No guaranteed return.
Minimum ticket
From €1
Understanding crowdfunding
What is
real-estate crowdfunding?
Real-estate crowdfunding means lending money to a developer or a property trader through a platform, to finance a construction, renovation or sales project. You subscribe to a bond or a loan agreement and receive interest.
You do not buy a share of the property and you do not become an owner. You are a creditor: your return depends on the developer's ability to repay. That is why the quality of the project, the LTV and the guarantees matter more than the advertised rate.
In 2026, the French market remains active but more selective. Serious platforms document their guarantees, default rates and developers better. The riskiest projects offer 13–14%, but they are not suitable for a first investment.
Key points before subscribing
- This is not a property purchase: you are a creditor, not an owner.
- Capital is locked until maturity, often 12 to 36 months.
- A first-rank guarantee is not the same as a second-rank guarantee.
- 9 – 12%
- Target return before tax and losses
- 12 – 36
- Average project term, in months
- €1
- Minimum ticket on some platforms
- 18
- Platforms reviewed in the directory
The mechanism
How does
a project work?
Three stages, a term of 12 to 36 months and capital locked until repayment. The return is built in the project selection, not in the advertised rate.
Subscription
You invest in a bond or a loan. Your capital is locked for the duration of the project.
Repayment
At maturity, the developer repays the capital and the interest. Delays and extensions are possible.
Typical timeline
M0
Subscription
M12–24
Construction & marketing
M24–36
Repayment
Terms are indicative. A 6 to 18-month extension is common when construction or sales fall behind.
Liquidity
Your capital is locked.
Unlike RWA, there is no instant resale. Some platforms offer a secondary market, but an exit is never guaranteed before maturity.
Compare with RWA2026 selection
The 6 platforms
I actually recommend.
A tight selection, tested with my own capital. I ruled out platforms whose guarantees, liquidity or governance do not stand up to comparison.
E
01EstateGuru
Most EuropeanCrowdfunding · For diversifying
Loans to European developers, secured by a first- or second-rank mortgage.
Return
10 – 11%
historical return
Bonus
0.5%
cashback over 90 days
- Minimum ticket
- €50
- Guarantee
- First/second-rank mortgage
C
02ClubFunding
Most comprehensiveCrowdfunding · For volume
Property, cars and luxury: the French leader in real assets, with larger tickets.
Return
9 – 12%
target return
Bonus
€100
from €1,000 invested
- Minimum ticket
- €1,000
- Guarantee
- Real assets
L
03La Première Brique
From €1Crowdfunding · For getting started
Selected residential projects, accessible from €1 with no entry fees.
Return
10 – 12%
target return
Bonus
1%
cashback over 90 days
- Minimum ticket
- €1
- Guarantee
- Selected projects
H
04Homunity
The premium optionCrowdfunding · For solidity
Premium property development, backed by the Tikehau group and a demanding selection process.
Return
9 – 10%
average return
Bonus
€20
offered on sign-up
- Minimum ticket
- €1,000
- Guarantee
- Tikehau group
R
05Raizers
France & beyondCrowdfunding · For international exposure
Projects in France, Switzerland and Belgium, with detailed analysis of each file and its guarantees.
Return
9 – 12%
target return
Bonus
€20
with code gchevalier-44785
- Minimum ticket
- €1,000
- Guarantee
- Guarantees project by project
C
06Crowdpear
First-rank mortgageCrowdfunding · For security
Lithuanian and European projects with a first-rank mortgage and a secondary market.
Return
10.5 – 12%
target return
Bonus
€15
offered on sign-up
- Minimum ticket
- €100
- Guarantee
- First-rank mortgage
Rates and bonuses verified on 1 November 2026. They may change without notice.
See the directory of 18 platformsFull directory
18 platforms
put under the microscope.
Indicative returns, tickets and specialities. Platforms marked “Selection” are part of my top 6. The others are still monitored, with a different profile.
Swipe the table to see all columns
| Platform | Return | Ticket | Speciality | Country | Review |
|---|---|---|---|---|---|
EstateGuruSelection Read the review | 10 – 11% | €50 | Mortgage-backed loans | Estonia | Read |
ClubFundingSelection Read the review | 9 – 12% | €1,000 | Property, cars, luxury | France | Read |
La Première BriqueSelection Read the review | 10 – 12% | €1 | Residential | France | Read |
HomunitySelection Read the review | 9 – 10% | €1,000 | Premium development | France | Read |
RaizersSelection Read the review | 9 – 12% | €1,000 | France, Switzerland, Belgium | France | Read |
CrowdpearSelection Read the review | 10.5 – 12% | €100 | First-rank mortgage | Lithuania | Read |
| Read the review | 9.5% | €10 | Property bonds | France | Read |
| Read the review | 5 – 9% | From €10 | Sustainable real estate | France | Read |
| Read the review | 13 – 14% | From €100 | Rental & development | Latvia | Read |
| Read the review | 8 – 11% | €100 | Retail & residential | France | Read |
| Read the review | 9.8 – 12% | €1,000 | Property & private equity | France | Read |
| Read the review | 9 – 10% | €1,000 | SMEs & real estate | France | Read |
| Read the review | Variable | From €100 | Short-term projects | France | Read |
| Read the review | Variable | Variable | Human-scale projects | France | Read |
| Read the review | Variable | From €100 | Rigorous analysis | France | Read |
| Read the review | 9 – 10% | €100 | SMEs, property & impact | France | Read |
| Read the review | 10 – 12% | €100 | Sustainable agricultural loans | Lithuania | Read |
| Read the review | 10 – 14% | €50 | Guaranteed agricultural loans | Latvia | Read |
Indicative gross returns, before tax and losses.
Verified on 1 November 2026
The other models
Agricultural platforms (Lande, InSoil) appear in the directory for their debt backed by real assets. Tokenised platforms (RealT, Atoa, Lofty) are covered in the real-estate hub and in the RWA guide.
Guarantees & risks
Mortgage, personal guarantee, LTV:
what really protects you.
A guarantee is not a marketing badge. Its rank, its scope and the solvency of the party behind it determine what you actually recover in the event of default.
The most protective
First-rank mortgage
The lender is repaid first from the proceeds of the sale of the property. It is the strongest guarantee, but it depends on the actual value of the property and on the legal process.
Check carefully
Second-rank mortgage
It ranks after the first-rank creditor. In the event of default, there may be little value left for you. The rank matters as much as the existence of the guarantee.
Depends on the guarantor
Personal guarantee / completion guarantee
A personal guarantee or a completion guarantee protects against certain defaults, but it is only worth as much as the guarantor's signature.
Analyse it
Pledge / lien
Assets (company shares, receivables, equipment) are pledged as security. The protection depends on how easily those assets can be realised in the event of default.
Understanding LTV
LTV (loan-to-value) is the ratio between the loan amount and the property value. An LTV of 60% means the loan represents 60% of the property value: 40% of theoretical headroom remains. The lower the LTV, the more valuable the guarantee.
LTV 60%Headroom 40%
Illustrative example, excluding costs and legal proceedings.
Before subscribing
The 3 questions to ask.
- 01What is the rank of the mortgage: first or second?
- 02What is the project's LTV, and on which value is it calculated?
- 03What happens if the developer defaults or falls behind schedule?
If the information memorandum does not clearly answer these three questions, I move on to the next project.
The risk remains
What the guarantee does not cover
- Developer default, which can halt the construction and the cash flow.
- Late repayment, often extended by 6 to 18 months.
- Illiquidity: your capital is locked until maturity.
- Fees and tax, which reduce the net return.
Take action
Investing in crowdfunding
in 5 steps.
You do not need €50,000 or a notary. A simple method, two or three platforms, and gradual diversification.
Check your horizon
Do not invest capital you will need within 2 to 3 years. Real-estate crowdfunding is not liquid.
Choose 2 or 3 platforms
Two platforms you understand are better than a catalogue of ten accounts. Start with EstateGuru, ClubFunding and La Première Brique.
Read the information memorandum
Guarantee, rank, LTV, developer, term, fees, extension clause: everything must be clear before you subscribe.
Diversify across projects
Several developers, several cities, several maturities. A single project should not represent a large share of the portfolio.
Monitor and declare
Track repayments, keep the tax reports and declare the interest received each year.
Checklist before your first subscription
- Horizon longer than 2 years
- Rank and LTV checked
- Information memorandum read
- Diversification planned
Taxation 2026
What you really
pay.
Real-estate crowdfunding interest is taxed as investment income. Repaid capital is not taxed: only the interest is.
Simple example
For €1,000 of interest received, the 30% flat tax represents €300 of tax. You keep around €700 net, before any other costs.
If your marginal rate is 0% or 11%, the progressive scale option may be more favourable. Run the numbers with your real situation.
Interest
30% flat taxInterest is taxed at the 30% flat tax by default, or at the progressive scale if you opt for it. Repaid capital is not taxed.
2042 — box 2TR
Losses
No automatic offsetA loss on one project cannot automatically be offset against your other income. The treatment depends on the nature of the contract and on your situation.
To confirm with an expert
Foreign account
Form 3916If your account is opened with a foreign platform, declaring the foreign account may be mandatory, even with no income received.
3916
General information, not personalised tax advice. Rules can change. Check your situation with an accountant or the tax authority.
Real-estate crowdfunding FAQ
The questions
that keep coming up.
Return, guarantees, liquidity, tax: short answers before subscribing to a property project.
Ask a questionWhat is real-estate crowdfunding?
Real-estate crowdfunding means lending money to a developer or a property trader through a platform to finance a construction or renovation project. You receive interest at maturity, generally between 9% and 12% before tax and losses.
What return can you expect in 2026?
The target return range is generally between 9% and 12% a year, before tax and losses. Some platforms or riskier projects advertise 13% to 14%. No return is guaranteed: a default can reduce or cancel the interest and part of the capital.
Is the capital guaranteed?
No. Guarantees (mortgage, personal guarantee, pledge) reduce the risk but do not eliminate it. A first-rank mortgage is more protective than a second-rank mortgage, and the value of the property can fall. Capital can be lost in the event of a serious default.
What is the best guarantee?
A first-rank mortgage is generally the most protective, because you are repaid first from the sale proceeds. Always check the rank, the LTV, the property value and the developer's solvency. A second-rank guarantee or a weak personal guarantee protects far less.
Can you resell before maturity?
In principle, no. Real-estate crowdfunding is illiquid: your capital is locked until final repayment, often 12 to 36 months. Some platforms offer a secondary market, but a resale is never guaranteed.
What is the minimum ticket to start?
From €1 on some platforms, €50 with EstateGuru, €100 with Crowdpear and €1,000 with ClubFunding, Homunity or Raizers. To diversify properly, plan for a few hundred to a few thousand euros spread across several projects.
How is interest taxed?
Interest is taxed at the 30% flat tax by default, or at the progressive scale if you opt for it. It is declared on form 2042 (box 2TR). If the account is opened with a foreign platform, form 3916 may be required.
How do you choose a real-estate crowdfunding platform?
I check the track record, the licence, the volume of projects financed, the default rate, the quality of the guarantees, the average LTV and the transparency of fees. A platform that only advertises a high return without documenting its guarantees is not a serious platform.
Further reading
The guides that
complete crowdfunding.
Real-estate crowdfunding: the guarantees guide
Mortgage, personal guarantee, LTV, rank: the complete guide to security.
Read the guideTaxation of investments in France
Flat tax, 2042, 3916: what you really pay on interest.
Read the guideFractional real estate and RWA
Compare the models before choosing your property exposure.
Read the guideTake action
Lending to developers.
Not to chance.
Choose two or three platforms, read the guarantees, diversify across projects. Start small and check every repayment.