Best Real Estate Crowdfunding Platforms in Spain and Europe (2026)

Short answer. No platform is best for every investor. Urbanitae, Civislend and Wecity (registered with Spain's securities regulator, the CNMV, under numbers 4, 8 and 9) raised about €320 million of the €366 million that real estate crowdfunding collected in Spain in 2024. No platform publishes a net realised return or an arrears rate in a comparable format, so the figures on this page are self-reported and cannot name a winner. The list also covers Cresor, Estateguru, InRento, Lofty and RealT, and none of them changes that conclusion: Cresor is one of the few that publishes arrears by year of origination, Estateguru and InRento lend against property in other countries under a foreign regulator, and RealT is a case for caution whose current status we could not verify. Reental, which publishes this article, is listed as one option among the others. Unlike the registered Spanish platforms, it is not a crowdfunding platform authorised by the CNMV, and it offers limited liquidity.

Platform data reviewed on 3 November 2026. Reental figures as of 4 November 2026, provided by the company. The Estateguru and InRento websites and the CNMV list of European providers were read again on 4 November 2026. Each platform's figures are the ones it publishes itself unless another source is cited, and the origin of each is in the Sources section. Reental is an interested party because it appears in the comparison, and its figures are declared by the company and have not been audited by third parties. External links point to sources and carry no referral codes.

What is real estate crowdfunding

Real estate crowdfunding is a form of collective financing in which many investors put capital, through a digital platform, into a specific property project (purchase, renovation, development or rental) in exchange for a return that depends on that project. Depending on the platform and the project, the investor joins as a partner (equity, with a capital gain on sale), as a lender to a developer (usually with security), or as a recipient of rental income. When lending is the only model, it is called real estate crowdlending.

In Spain, the platforms that offer this service as crowdfunding service providers (proveedores de servicios de financiación participativa, PSFP) are governed by Regulation (EU) 2020/1503 and Law 18/2022, and must be listed in a CNMV register. At the end of 2025 there were 27 registered entities, from any sector, not just real estate. Registration requires the platform to provide a key investment information sheet, apply a knowledge test to non-sophisticated investors and respect a 4-day reflection period, but it does not guarantee the investment. The platforms reviewed warn that there is no deposit or investor guarantee fund (Civislend, Fundeen and Civitae) and that the CNMV does not approve or supervise each project (Wecity).

The sector is large and concentrated. According to Universo Crowdfunding, crowdfunding raised €522.5 million in 2024, of which €366.2 million was real estate, and Urbanitae, Civislend and Wecity led the segment. The summary note on the 2025 report puts the total at €761.6 million and real estate at €566.2 million. Those figures measure the amount raised in successful campaigns, not the number of investors or the capital still outstanding. For the pros and cons in general terms, see the guide to the advantages and disadvantages of real estate crowdfunding.

The best real estate crowdfunding platforms in Spain and Europe

The ones with the most volume and the longest time on the CNMV register are Urbanitae, Civislend and Wecity. Crowpire (formerly Housers), Fellow Funders and Cresor complete the group of Spanish PSFP with real estate or property-loan offers. ClubFunding and Raizers operate from France, Estateguru and InRento from Estonia and Lithuania, Lofty and RealT from the United States, and Reental sits outside the register. This page does not score or rank platforms by quality, because the published data does not allow it (see below for what is missing). The table shows what each platform declares as of 3 November 2026 (Reental, as of 4 November).

Three cautions when reading the table. First, the returns are almost all average IRRs of projects that have already been repaid, so by construction they leave out the ones still open or running late. Second, volumes are not measured the same way (invested, financed, channeled or tokenised) or in the same currency. Third, "we have not located" describes our search, which did not include an exhaustive review of the CNMV bulletin, and does not mean that nothing exists.

Which platform fits what you are looking for

• If you want debt only, secured by a mortgage, with the lowest ticket in the table among the Spanish PSFP: Civislend (€250 per project).
• If you want to choose between equity, debt and rental income on one platform: Urbanitae or Wecity.
• If volume and declared track record come first: Urbanitae, with more than €710 million invested according to its website.
• If you want a Spanish PSFP for property debt that publishes arrears by year of origination: Cresor (€250 minimum).
• If you accept lending against property in other countries, under a European regulator other than the CNMV: Estateguru (€50) or InRento (€500), bearing in mind that their websites do not list the countries of residence they accept.
• If you accept investing outside the PSFP register, with limited liquidity, and you are interested in real estate tokenisation: Reental (€100 per token), with the caveats in its section. Lofty tokenises homes in the US, and RealT is covered only as a case for caution.

Urbanitae, the platform with the most volume in the Spanish market

Urbanitae led Spanish real estate crowdfunding by volume in 2024, and its website declares more than €710 million invested and more than 310 projects financed as of 3 November 2026. It is registered with the CNMV as no. 4 (effective 23 December 2022, according to CrowdIndex) and the minimum is €500. It offers equity in projects of 12 to 36 months, mortgage-backed loans of 6 to 18 months and rental income products of 3 years or more. Since 2025 it also offers direct property investments, which, according to its own website, are not governed by Regulation 2020/1503.

The return figure it publishes is an average IRR of 11.7%, calculated on fully repaid projects. In the first half of 2026, according to its blog, it transacted €158 million (44% more than a year earlier) and closed 17 projects with an average IRR of 10%. The volume figures do not match across its pages (the website says more than €710 million, the July blog post more than €680 million). It does not publish an arrears rate on its website. According to CrowdIndex, its statistics page shows 0% of loans unpaid, but only for loans (about 41% of volume), and there is no late-payment metric for equity. It has no secondary market. Its CEO has said it plans to launch two funds (debt and equity) before the end of 2026.

Head-to-head comparison with Reental: Reental vs Urbanitae.

Civislend, a debt-only platform with a €250 minimum

Civislend is the real estate crowdlending platform on the list: it only lends to developers, with a minimum of €250 per project and no fees for the investor according to its website. It is registered as a PSFP with no. 8 since 20 October 2023 (before that it was registered as a PFP from October 2017). Loans go to project companies and usually carry a first-ranking mortgage; depending on the project there may be a guarantee from the parent company or a pledge over shares. It charges the developer, and CrowdIndex puts that fee between 4% and 8.25% plus VAT.

Its website headlines an average annual return of 11.08% in 2025. In the company's own press releases, the cumulative average is 13.8% a year in July 2026 (idealista) and 14% at the end of October (xm2news). For the first half of 2026 it declares €96 million financed (55% more) and an average term of 15 to 16 months. CrowdIndex estimates 10.4% a year on its own for repaid projects. On arrears, its website says it publishes projects more than 90 days late on its statistics page. The image on that page, which we read on 3 November 2026, shows arrears of 6.06% in 2023, 6.15% in 2024 and a historical 5.43%, with no cut-off date. It has no secondary market and warns that capital is not covered by the Investment Guarantee Fund or the Deposit Guarantee Fund.

In 2023 it received two fines of €28,000 each for very serious infringements of neutrality and transparency, which it appealed to the Audiencia Nacional (Ladrillo Colectivo; we have not verified the current status of the appeal). Head-to-head comparison with Reental: Reental vs Civislend.

Wecity, three product lines across Spain, Portugal and Italy

Wecity was the third platform by volume in 2024 and combines equity (Plusvalía), rental income (Renta) and loans to developers (Interés). Its brand belongs to Cityprive PSFP, registered as no. 9 since 20 October 2023; the platform itself states this in its authorisation announcement. Each developer sets the minimum investment for its project, and the account is free. In rental projects, the asset management costs are deducted from the income.

On its website it declares €305 million financed in 230 projects, €194 million repaid in 121 projects, an average return since inception of 12.02% and an average term of 11 months. It also shows a "default rate" of 0%. The press release published with PwC on 3 July 2026 repeats "0% arrears" without defining the period, scope or underlying data, so that figure is self-declared and not comparable. Its FAQ gives two different versions of the limit for non-accredited investors (€3,000 per project and €10,000 a year, or €1,000 per project or 5% of net worth), and it mentions no secondary market. Head-to-head comparison with Reental: Reental vs Wecity.

Crowpire (formerly Housers) and its public incidents

Crowpire is the new name of Housers and is still registered with the CNMV as no. 13; this section lists its public incidents with the source of each. The rebrand was announced in February 2026 (Observatorio Inmobiliario) and the change of name was entered in the register on 22 December 2025 (CrowdIndex). Its website (crowpire.com) showed no readable data when we reviewed it, so the minimum and fees come from the press and from CrowdIndex.

• Product and terms. It now offers loans to developers with mortgage security, with a minimum of €300 per project (Observatorio Inmobiliario and elDiario.es). On fees, elDiario.es cites contract terms of up to 6% at the start, €100 per late-payment notice and €2,000 for a restructuring, while CrowdIndex lists a €2.50 monthly charge on inactive balances, up to 10% on formalisation and up to 20% of amounts recovered. The two versions do not match and should be checked against the current terms.
• Return. The platform gives an average of 7% a year (Observatorio Inmobiliario) and CrowdIndex calculates an IRR of 7.45%. elDiario.es says interest of 10-13% or more was promised and that the actual gain was lower.
• CNMV sanctions. elDiario.es reports €215,000 in 2019 (three sanctions). In 2021 another one of €130,000 was imposed for breaching neutrality and conflict-of-interest rules (idealista), which, according to CrowdIndex and Ladrillo Colectivo, the Audiencia Nacional annulled in 2024.
• Affected investors. On 16 September 2026, elDiario.es reported hundreds of investors who had not recovered their money and more than a thousand negative reviews. On 18 September, ASUFIN said the affected investors number in the hundreds and that being listed as a regulated platform does not guarantee the investment.
• Capital and arrears. The figures for capital raised and returned differ: company data of about €150 million and more than €72 million returned; CrowdIndex, about €148.6 million since 2015. The platform does not publish an arrears rate; CrowdIndex calculates 13.25% (€3.385 million late out of €25.55 million and 87 projects), a calculation specific to that review.
• Activity. On 2 September 2026 there were no open or upcoming projects, according to CrowdIndex. The secondary market moved €2,084 in 2023 and €0 in 2024, 2025 and 2026.

Head-to-head comparison with Reental: Reental vs Crowpire (formerly Housers).

Fellow Funders, ClubFunding and Raizers, other platforms with real estate offers

Fellow Funders is the other Spanish PSFP with an active real estate offer, and ClubFunding and Raizers are two French platforms with real estate offers open to investors in Spain. The data available is less complete than for the three largest.

Fellow Funders

It is registered as no. 2 (10 November 2022). Its website asks for €1,000 per project, declares an average historical IRR of 12.4% calculated only on finished projects, more than €60 million invested, more than 90 projects and 4,800 active investors, and states that the investor pays no entry, management or exit fees. It does not publish arrears. Finect also attributes crowdequity and agricultural projects to it and notes that it has no secondary market. According to Universo Crowdfunding, it merged with Dozen Investments into Grupo Orbyn; its website does not mention this.

Head-to-head comparison with Reental: Reental vs Fellow Funders.

ClubFunding

It is a French platform authorised by the AMF. Its Spanish-language website asks for €1,000, publishes an IRR of 9.95% before tax on fully settled financings since 2015, as of 30 April 2026, and says it charges no entry, arbitrage or contribution fees. Its volume figures do not reconcile with those of other sources, so we do not give them. It is not in the Spanish PSFP register, which covers Spanish entities, but it is in the CNMV list of European providers that offer services in Spain (no. 17, since 15 December 2023; consulted on 4 November 2026).

Head-to-head comparison with Reental: Reental vs ClubFunding.

Raizers

It lends to developers and lists 9 projects in Spain. According to its website, the minimum is €1,000 per project (€100 in SmartInvest), the target is 10.5% to 12% a year on the Spanish ones and the terms run from 12 to 24 months. It declares €460 million invested since 2014 in 465 operations. It does not say whether the return is gross or net, and it shows neither a realised IRR nor arrears. It is listed as an approved provider (prestataire agréé) of the AMF (FP-2023-5) and in the CNMV list of European providers (no. 6, since 20 June 2023).

Head-to-head comparison with Reental: Reental vs Raizers.

Cresor (formerly Stockcrowd), a Spanish PSFP that publishes arrears by year

Cresor is the new name of Stockcrowd, a crowdlending platform registered with the CNMV as no. 19 since 15 December 2023, which offers fixed-interest real estate loans and business loans. The old website (stockcrowdin.com) redirects to cresor.com. The minimum is €250 and it advertises up to 12% a year, with projects listed at 10.5% and 6.3%. On its statistics page it declares a weighted annual historical IRR of 10.45%, calculated only on projects completed successfully and failed projects (it excludes those in arrears and refinanced ones), €164.2 million financed and €112.7 million repaid across 951 projects, with an average term of 13 months. The figures include those of Grow.ly, an SME platform merged in 2022, and no cut-off date is given; on 4 November the same page already showed €165.8 million and 952 projects.

It is one of the few that publish arrears with a stated methodology. It puts the portfolio default probability at 1.82% and breaks out default beyond 90 days by year of origination, using the criteria of Delegated Regulation (EU) 2022/2115: by volume, 1.03% in 2021 (failed), 1.88% in 2023 and 2.71% in 2024, and 0% in 2020, 2022, 2025 and 2026; by number of loans, 5.00% in 2021, 5.88% in 2023 and 2.86% in 2024. The recent years may rise as the loans mature. These are self-declared figures. Its fee document (read on 4 November 2026) gives no percentages and refers to each operation: it mentions no sign-up or exit fee for the investor, but leaves an administration fee on outstanding capital open.

Head-to-head comparison with Reental: Reental vs Cresor.

Estateguru and InRento, European loan platforms backed by property

Estateguru (Estonia) and InRento (Lithuania) are real estate crowdlending platforms listed in the CNMV list of European providers that offer services in Spain. Estateguru appears as no. 5 (since 1 June 2023) and InRento as no. 45 (since 23 February 2026), according to the list consulted on 4 November 2026. They are supervised by the authorities of Estonia and Lithuania, not by the CNMV, and they finance property in other countries. Their websites do not say which countries of residence they accept (we checked on 4 November 2026). The CNMV list confirms that they offer services in Spain, but you should confirm with the platform that your country of residence is accepted before registering.

Estateguru

Estateguru is an Estonian platform for bridge loans secured by a first-ranking property charge, with a European crowdfunding licence since 2023 and a minimum of €50. According to its website, all new loans since 2023 have been financed in the Baltics. Before that, in 2021 and 2022, there were loans in Germany, and the website itself acknowledges that investors have suffered losses on them. Alternative Credit Investor reported in February 2025 a warning from the platform about probable losses on that portfolio. It declares €958 million financed, 160,023 investors and €100.3 million in interest paid, undated, and that more than 97% of loans financed since 2023 are repaid or up to date (October 2026). According to Finantres, as of 8 May 2026 the historical return was 9.47%, the average loan-to-value (LTV) 62.90% and the term 14 months, with 0.52% of loans late, 1.06% failed and 3.48% in recovery. The EG Grow product advertises a fixed 7%.

According to its official price list (in force since 1 November 2025, read on 4 November 2026), investing on the primary market carries no fee; management is 0.083% of outstanding performing principal, capped at €100; withdrawal costs €3; an inactive account €10 a month (€50 a month after the first year of the fee period); the secondary market charges the seller 1%; and there is an interest spread of 0% to 2%. Some Finantres figures differ from that list, so always check the current one. Finantres says that the closure of the Spanish loan market does not stop a resident from using the platform, but the official website does not confirm it.

Head-to-head comparison with Reental: Reental vs Estateguru.

InRento

InRento is a Lithuanian platform that finances real estate projects with a first-ranking mortgage, with monthly interest and capital at the end, and says it is licensed and regulated by the Bank of Lithuania under the European crowdfunding regulation. The minimum is €500. Its website advertises a fixed 7.75% to 11.5% depending on the project, plus 1.5% a year of capital gain in many, and headlines an average annual return of 11.56%. According to Finantres, the published actual average was 11.82% against 9.35% expected (data as of 8 May 2026). It declares €136.84 million invested and 5,768 active investors (read on 4 November 2026), and 0% of projects in arrears, with no methodology or period; Finantres found no principal in arrears or in recovery in May. The projects shown on its website are in Finland, Latvia, Italy, Poland and Lithuania.

According to its price list (read on 4 November 2026, with no effective date), it charges no sign-up, account or investment fees; it charges 2% on card deposits (Mangopay) and 2% to the seller on the secondary market, and €30 a year for a Mangopay account with no transactions for more than 2 years. According to Finantres, reviews from 2026 report delayed transfers after sales on that market.

Head-to-head comparison with Reental: Reental vs InRento.

Reental, real estate tokenisation outside the PSFP register, with limited liquidity

Reental tokenises real estate projects and operates outside the CNMV register of crowdfunding service providers (consulted on 3 November 2026). On its Reental Wealth page, the company itself states that what it offers is not advice. Reental also publishes this article, and the figures in this section were provided by the company.

Reental is not a crowdfunding platform authorised by the CNMV and is not listed in its register of crowdfunding service providers (proveedores de servicios de financiación participativa, PSFP), checked on 3 November 2026. According to the company's legal documentation, its product does not require that authorisation. This means that the investor does not have the specific safeguards of Regulation (EU) 2020/1503 (for example, the knowledge test, the loss simulation and the reflection period), and that their participation is not backed by any crowdfunding supervisor.

According to the data Reental provided on 4 November 2026, the minimum investment is €100 (1 token = €100) and the average historical IRR is 16.5%, a figure declared by Reental. The company has not said whether that figure is gross or net, so we do not compare it with the IRRs of other platforms. It has tokenised about €106.9 million (approx. $124 million) in total across 128 projects. Of these, 77 are live and add up to about €87 million (approx. $101 million): 50 operating, 20 under renovation, 6 under construction and 1 in financing (Miami 7, with $1.19 million of $2 million, or 59.7%). The other 51 are closed and add up to about €19.9 million. Reental declares that it has no public incidents. The projects visible in the listing on 3 November had an estimated yield of 9.5% to 12% a year, and returns are paid monthly in USDT.

Two drawbacks are worth stating plainly. The first is liquidity: the exit is a direct sale to another user accredited on the platform (according to its FAQ), and there is no guarantee of finding a buyer, a price or a timeframe. The website advertises selling 24 hours a day on a P2P market, but on 3 November the "P2P Marketplace" link in the menu led to no page. The second is that the investor does not have the specific safeguards of Regulation (EU) 2020/1503 that people investing in the PSFP described above do have.

Head-to-head comparisons, one per platform: Urbanitae, Civislend, Wecity, Crowpire (formerly Housers), Fellow Funders, ClubFunding, Raizers, Cresor, Estateguru, InRento, Lofty, RealT and Brickfy.

Lofty and RealT, tokenised rental homes in the United States

Lofty and RealT are US platforms that tokenise stakes in rental homes, and they operate outside the European crowdfunding framework. Their current situations are very different: Lofty keeps operating with no warnings on its website, while RealT's status is not verified.

Lofty

Lofty is a US platform that tokenises stakes in US rental homes, which can be bought from about $50 and sold on its own secondary market. Its website declares more than 40,000 investors, more than $100 million invested and more than $5.2 million distributed, shows yields per property of between 5.43% and 13.18% as examples, and warns that Lofty AI, Inc. is not a broker-dealer or a registered adviser. It applies enhanced KYC above $200. It does not publish vacancy or tenant arrears in aggregate, and we could not verify its portfolio.

According to a review on crowdfundedwealth.com (updated on 16 October 2026), fees are 2.5% on purchase, 3% on sale and 3% on the marketplace for the seller, which adds up to between 5.5% and 10.5% round trip depending on the order type; the website does not show them. The same review says it accepts investors from almost every country and applies a 30% withholding on distributions to anyone without an ITIN (15% with an ITIN and a W-8BEN). This is the claim of a single source and we have not verified it in Lofty's terms; consult a tax adviser. The review also says it found no SEC filings (Form D, Reg A or Reg CF) for its retail offering and that only one or two of hundreds of properties have been sold above the purchase price. We have not located any SEC action against the platform.

Head-to-head comparison with Reental: Reental vs Lofty.

RealT, a case for caution

RealT is a US platform based in Detroit that tokenises stakes in rental properties (Detroit, Birmingham and Panama on its website), and we could not verify its current status. Its website still advertises income of 6% to 16% a year since 2019, more than $29 million of income distributed and more than 65,000 registered investors, and showed no suspension notice on 3 November 2026.

The press tells a different story. According to the review on crowdfundedwealth.com (13 October 2026), which cites a report by Outlier Media, in February 2026 an email to investors said "The model no longer works" and suspended the weekly payments, and on 2 July 2026 a co-founder said "We are entering voluntary liquidation". The review found no court file or insolvency proceeding that formalises this. It also reports a lawsuit by the City of Detroit (Wayne County, no. 25-010288-CH) filed on 30 June 2025 against 166 companies and 408 properties that it links to RealT, alleging unpaid taxes and fines; a restraining order of 22 July 2025 that prevents rent collection, an injunction of 23 September 2025 and a special fiduciary approved on 22 April 2026. We could not consult the court file. According to that review, US investors cannot take part and its terms cite Regulation S. We have not verified whether it accepts residents of Spain. For all these reasons, we do not include it among the recommended alternatives.

Head-to-head comparison with Reental: Reental vs RealT.

Brickfy and other platforms whose status we could not verify

We could not verify whether Brickfy is still operating normally, and there is no official announcement of closure or continuity. Its main website loads, with a €5 minimum and a "© 2026" footer, but the Spanish version returns a 404 error with the text "Under Maintenance", and we could not read its fee and terms pages. It presents itself as a marketplace for assignments of credit rights, and TheCrowdSpace classifies it as "Not regulated"; we have not found a CNMV registration in its name. On Trustpilot, a user described a temporary suspension of deposits on 4 July 2026. These are unconfirmed opinions. For that reason we do not include it in the table or compare it.

Other platforms that appear in searches, with what is on record:

• SEGO Real Estate belongs to Sociosinversores 2010, registered as a PSFP with no. 7 (Estrategias de Inversión). The volume figures for its group do not reconcile across sources, so we do not give them.
• Civitae is registered as no. 26 (4 July 2025). Its website declares one project financed and €1.5 million raised.
• Fundeen is registered as no. 3, but its website talks about renewable energy and sustainable projects, not real estate.
• Brickstarter said on its website that there were no open opportunities.
• Inveslar is not in the CNMV PSFP register. That does not by itself imply any irregularity, because it may operate under a different legal framework, but it does mean it is not a PSFP.

Head-to-head comparison with Reental: Reental vs Brickfy.

What real return does each platform deliver, and what data is missing

No platform publishes a homogeneous net realised return, so today the market cannot be ranked by real return. What is published are average IRRs of repaid projects (Urbanitae 11.7%, Civislend 11.08% in 2025, Wecity 12.02%, Fellow Funders 12.4%, Cresor 10.45%, ClubFunding 9.95% before tax), an average of 7% at Crowpire, an advertised 11.56% at InRento (Finantres calculates a real 11.82%), a historical 9.47% at Estateguru according to Finantres, and an average historical IRR of 16.5% declared by Reental. Each uses its own definition (Cresor's, for example, excludes loans in arrears and refinanced ones), and almost all exclude or leave unclear what happens with projects that have not been repaid.

This is the data that is missing and that would allow a comparison:

• An IRR net of fees, arrears and taxes, calculated with the same method for all.
• Inclusion of projects not yet repaid or running late in that IRR (today there is survivorship bias).
• A defined arrears and late-payment rate (days late, share of outstanding capital, split between equity and debt). Wecity publishes 0% without defining it, InRento 0% without a methodology, and Urbanitae only for loans according to CrowdIndex.
• Recoveries and write-downs on projects that default.
• Outstanding capital and the number of unique investors, instead of cumulative investments or registered users.
• A sector-wide arrears figure: neither the CNMV, in its 2025 Annual Report, nor Universo Crowdfunding publishes one.

Until they exist, the honest comparison is to look at each figure with its definition and its date, as the table above does.

How to choose a real estate investment platform

Five criteria drive the decision: regulation, diversification, published arrears, liquidity and fees. None of them replaces reading the key investment information sheet of each project.

Regulation

Check the name and number in the CNMV register. For European platforms, check the authorisation from their regulator (in France, the AMF; in Estonia and Lithuania, their national authorities) and that they appear in the CNMV list of European providers, which includes Estateguru (no. 5), InRento (no. 45), ClubFunding (no. 17) and Raizers (no. 6), among others. Lofty and RealT are American and fall outside the European regulation. Keep in mind what it does not cover: the Regulation does not apply to offers above €5,000,000 per developer over 12 months, Urbanitae's direct investments fall outside it, and the PSFP reviewed warn that there is no deposit or investor guarantee fund. A platform outside the register, such as Reental, does not have the obligations of a PSFP.

Diversification

Look at the minimum per project and the limit the platform applies to you. According to CrowdIndex, Civislend limits a non-accredited investor to €3,000 per project and €10,000 over 12 months. As simple arithmetic, €10,000 with tickets of €250 or €500 allows you to spread across 40 or 20 projects. The Regulation also requires a knowledge test and a loss simulation when the investment exceeds the greater of €1,000 or 5% of net worth (the simulation is calculated on 10% of net worth).

Published arrears

Ask for a rate with a definition: period, scope and whether it includes equity. Today Cresor publishes it by year of origination using the criteria of Delegated Regulation (EU) 2022/2115 (1.82% portfolio default probability). Civislend shows 6.06% in 2023, 6.15% in 2024 and a historical 5.43% with no cut-off date. Estateguru declares that more than 97% of loans since 2023 are repaid or up to date. InRento and Wecity publish 0% (InRento without a methodology, Wecity without defining it), Urbanitae does so only for loans according to CrowdIndex, and Crowpire does not publish it. The Cresor and Civislend figures cannot be compared directly, because there is no indication that they use the same definition.

Liquidity

Most of the Spanish PSFP reviewed have no meaningful secondary market. The Regulation only allows platforms a bulletin board, with no matching of orders. Plan to stay until the end of the project: 12-36 months in the equity of Urbanitae and Wecity, 6-18 months in Urbanitae's loans, an average of 15-16 months at Civislend and an average of 11 months at Wecity. For Crowpire, CrowdIndex reports an actual average of 18 months against 12 planned. Estateguru and InRento have a secondary market with a fee for the seller (1% and 2% according to their price lists), and Lofty has its own. At Reental, the exit is a direct sale to another user, with no guarantee of a buyer.

Fees

Ask who pays and when. Civislend and Fellow Funders say they charge the developer and not the investor; Wecity deducts asset management costs from the income in rental projects; at Crowpire the sources disagree; Estateguru (1%) and InRento (2%) charge the seller on their secondary markets according to their price lists, and Lofty does too according to a review; and Cresor mentions no sign-up or exit fee, but leaves an administration fee open. If you are looking at other ways to invest in property with little capital, see this guide on how to invest in real estate in Spain with little money.

Frequently asked questions about real estate crowdfunding

What is the best real estate crowdfunding platform in Spain or Europe?

There is no single best one for every profile. By volume and CNMV registration, Urbanitae, Civislend and Wecity stand out, and together they raised about €320 million of the segment's €366 million in 2024. European platforms such as Estateguru and InRento (Estonia and Lithuania) and ClubFunding and Raizers (France) appear in the CNMV list of European providers that offer services in Spain. No platform publishes a comparable net realised return or arrears rate, so the choice depends on your minimum, your time horizon, the liquidity you need and the fees.

Is real estate crowdfunding safe?

It is not a guaranteed investment. Platforms registered with the CNMV must meet information and investor-protection obligations, but there is no deposit or investor guarantee fund and the CNMV does not approve or supervise each project. You can lose part or all of your capital, and there are projects with delays and platforms with public incidents, such as Crowpire's, or cases for caution such as RealT, whose current status we could not verify.

Can you lose money investing in real estate crowdfunding?

Yes. The return depends on the project and the developer, and the platforms themselves warn that returns are not guaranteed. There is a risk of default, delay and lack of liquidity, because most PSFP have no secondary market. Diversifying across several projects reduces the risk of any one, but does not remove it.

What real return does real estate crowdfunding deliver?

It depends on the platform and on how it is calculated. The average IRRs they publish range from 7% at Crowpire to 12.4% at Fellow Funders, with Urbanitae at 11.7%, Civislend at 11.08% (2025), Cresor at 10.45% and Wecity at 12.02%, but they are self-declared and calculated on repaid projects. Reental declares an average historical IRR of 16.5% without stating whether it is gross or net. No platform publishes a homogeneous net return that includes arrears and pending projects.

Is Urbanitae reliable?

Urbanitae is registered with the CNMV as no. 4, declares more than €710 million invested and publishes an average IRR of 11.7% on repaid projects. It does not publish an arrears rate for equity and has no secondary market. Being registered does not guarantee the outcome of a specific project, so review the information sheet of each one.

Is Crowpire, formerly Housers, reliable?

Crowpire is still registered with the CNMV as no. 13, but it has public incidents: CNMV sanctions of €215,000 in 2019 and €130,000 in 2021 (the latter annulled in 2024 according to third parties) and hundreds of affected investors according to ASUFIN and elDiario.es in September 2026. It does not publish an arrears rate and had no open projects on 2 September 2026, according to CrowdIndex. Check these sources before deciding.

How much money do you need to start?

From €50 at Estateguru, €100 at Reental (1 token = €100), €250 per project at Civislend and Cresor, €300 at Crowpire, €500 at Urbanitae and InRento and €1,000 at Fellow Funders, ClubFunding and Raizers. At Lofty, about $50 per stake. At Wecity, each developer sets it.

Can you sell the investment before the project ends?

At the Spanish PSFP reviewed, generally not: Urbanitae and Civislend have no secondary market, and Crowpire's moved €0 between 2024 and 2026 according to CrowdIndex. Regulation 2020/1503 only allows platforms a bulletin board. Estateguru and InRento have a secondary market with a fee for the seller (1% and 2% according to their price lists) and Lofty has its own. At Reental the exit is a direct sale to another accredited user, with no guarantee of a buyer, price or timeframe.

How is real estate crowdfunding taxed?

It depends on the legal form of the investment and on your tax residence, and we cannot give you a definitive answer. According to an opinion piece published in idealista news in 2024, loan interest is taxed as income from movable capital in the savings base, and the sale or repayment of equity holdings generates capital gains or losses (Spanish tax rules). We have not verified DGT rulings or the current maximum rate, because sources differ. Consult a tax adviser; Reental does not provide tax advice.

What is the difference between real estate crowdfunding and crowdlending?

Real estate crowdlending is only the loan model: the investor lends to a developer and receives interest (Civislend works only this way). Real estate crowdfunding also includes equity, with a capital gain on sale, and rental income, as offered by Urbanitae and Wecity.

Can you invest from Spain in Estateguru or InRento?

Both appear in the CNMV list of European crowdfunding providers that offer services in Spain (Estateguru, no. 5, since 1 June 2023; InRento, no. 45, since 23 February 2026), consulted on 4 November 2026. Their websites do not list the countries of residence they accept, so confirm with the platform that yours is accepted before registering. They are supervised by the authorities of Estonia and Lithuania, not by the CNMV, and they lend against property in other countries.

What happened to RealT?

We could not verify its current status. Its website still advertises income of 6% to 16% a year, but according to a review on crowdfundedwealth.com that cites Outlier Media, in February 2026 it suspended weekly payments and on 2 July 2026 a co-founder spoke of entering voluntary liquidation; that review found no insolvency file confirming it. It also reports a lawsuit by the City of Detroit from June 2025 against 166 companies and 408 properties that it links to RealT. If you are an investor, consult its official announcements and an adviser.

Is Reental authorised by the CNMV as a crowdfunding platform?

No. Reental is not a crowdfunding platform authorised by the CNMV and is not listed in its register of crowdfunding service providers (proveedores de servicios de financiación participativa, PSFP), checked on 3 November 2026. According to the company's legal documentation, its product does not require that authorisation. This means that the investor does not have the specific safeguards of Regulation (EU) 2020/1503 (for example, the knowledge test, the loss simulation and the reflection period), and that their participation is not backed by any crowdfunding supervisor.

Risk warning and conflict of interest

Investing in real estate projects carries the risk of partial or total loss of capital, of payment delays and of lack of liquidity. Past returns do not guarantee future ones, and most of the figures on this page are self-declared by each platform and may have changed. Being registered with the CNMV does not mean the CNMV guarantees or supervises each project. This article is not financial, tax or legal advice; consult a professional before investing. Reental publishes this article and is one of the platforms compared; its figures were provided by the company itself and have not been audited by third parties. Third-party data comes from the public sources cited below and will be reviewed periodically; if you are one of the platforms cited and spot an incorrect figure, tell us and we will correct it.

Sources

Consulted on 3 November 2026, unless another date is shown. "Data date" is the publication or update date of the source when known.

• Urbanitae: Law 18/2022 cited on its website, minimum €500, more than €710 million invested, more than 310 projects, average IRR 11.7%, products and terms: urbanitae.com/es (consulted 3-11-2026). Data date: 2026-11-03.
• Urbanitae: €158 million in the first half of 2026 (+44%), 17 projects closed with an average IRR of 10%, funds planned before the end of 2026: Urbanitae blog, first half of 2026 close (consulted 3-11-2026). Data date: 2026-07-15.
• Urbanitae: direct investments outside Regulation 2020/1503: Urbanitae, direct investments (consulted 3-11-2026). Data date: 2026-11-03.
• Urbanitae: CNMV no. 4 (23-12-2022), no sign-up/deposit/withdrawal fees, no secondary market, 0% default on loans only: CrowdIndex, Urbanitae review (consulted 3-11-2026). Data date: 2026-09-02.
• Civislend: minimum €250, 11.08% average return in 2025, no fees for the investor, no. 8, warning of no coverage by guarantee funds: civislend.com (consulted 3-11-2026). Data date: 2026-11-03.
• Civislend: arrears of 6.06% in 2023, 6.15% in 2024 and 5.43% historical, no cut-off date (image on the statistics page, read on 3-11-2026): Civislend, statistics (consulted 3-11-2026). Data date: 2026-11-03.
• Civislend: limit of €3,000 per project and €10,000 in 12 months, developer fee 4-8.25%, range 10-13%, no secondary market, 10.4% estimate on repaid projects: CrowdIndex, Civislend review (consulted 3-11-2026). Data date: 2026-08-10.
• Civislend: €361 million in 183 projects, 13.8% cumulative average, €96 million and 55% growth in H1 2026: idealista news, Civislend H1 2026 (consulted 3-11-2026). Data date: 2026-07-16.
• Civislend: about €423 million and more than 210 projects, 14% cumulative average, €45 million in Q3 2026: xm2news, Civislend Q3 2026 (consulted 3-11-2026). Data date: 2026-10-29.
• Civislend: two fines of €28,000 (2023); Crowpire: €130,000 sanction and its annulment in 2024: Ladrillo Colectivo, CNMV sanctions (consulted 3-11-2026). Data date: 2023-2024.
• Wecity: €305 million and 230 projects, €194 million repaid in 121, 12.02% average, average term of 11 months, default rate 0%: wecity.com (consulted 3-11-2026). Data date: 2026-11-03.
• Wecity: three product lines, minimum set by the developer, free account, costs in rental projects, limits for non-accredited investors, CNMV warnings: Wecity, FAQ (consulted 3-11-2026). Data date: 2026-11-03.
• Wecity: "0% arrears" in the press release with PwC: Wecity, press release with PwC (consulted 3-11-2026). Data date: 2026-07-03.
• Wecity: CNMV authorisation, registration no. 9: Wecity, CNMV authorisation (no. 9) (consulted 3-11-2026). Data date: 2025-07-17.
• Crowpire: rebrand of Housers, 7% average, about €150 million and 456 projects (company data): Observatorio Inmobiliario, Housers adopts the Crowpire brand (consulted 3-11-2026). Data date: 2026-02-11.
• Crowpire: no. 13 (10-11-2023), register change of 22-12-2025, 7.45% IRR, 13.25% arrears calculated by CrowdIndex, secondary market, open projects as of 2-9-2026, €148.6 million: CrowdIndex, Housers/Crowpire profile (consulted 3-11-2026). Data date: 2026-09-02.
• Crowpire: €300 minimum, fees in contracts, €215,000 of sanctions in 2019, hundreds of affected investors and more than a thousand negative reviews: elDiario.es, investigation into Housers (consulted 3-11-2026). Data date: 2026-09-16.
• Crowpire: affected investors "in the hundreds" and that being a regulated platform does not guarantee the investment: ASUFIN, those affected by Housers (consulted 3-11-2026). Data date: 2026-09-18.
• Crowpire: €130,000 sanction of 2021 for neutrality and conflicts of interest: idealista news, CNMV sanction on Housers (consulted 3-11-2026). Data date: 2021.
• Fellow Funders: minimum €1,000, average historical IRR 12.4%, more than €60 million, more than 90 projects, 4,800 active investors, no fees for the investor: fellowfunders.es (consulted 3-11-2026). Data date: 2026-11-03.
• Fellow Funders and ClubFunding: product, liquidity and terms as described by Finect: Finect, best real estate investment platforms (consulted 3-11-2026). Data date: 2026-11-03.
• ClubFunding: minimum €1,000, IRR 9.95% as of 30-04-2026, no entry, arbitrage or contribution fees, AMF authorisation; listed in the CNMV list of European providers (no. 17, 15-12-2023): clubfunding.eu/es (consulted 3-11-2026). Data date: 2026-11-03.
• Raizers: product, minimums, 8-12% targets, terms, €460 million in 465 operations, AMF FP-2023-5; listed in the CNMV list of European providers (no. 6, 20-6-2023): raizers.com (consulted 3-11-2026). Data date: 2026-11-03.
• Cresor (formerly Stockcrowd): rebrand, product, minimum €250, up to 12% advertised: cresor.com/in (consulted 3-11-2026). Data date: 2026-11-03.
• Cresor: historical IRR 10.45%, €164.2 million financed, €112.7 million repaid, 951 projects, average term 13 months, arrears by year of origination and default probability 1.82%: Cresor, statistics (consulted 3-11-2026). Data date: 2026-11-03.
• Cresor: fee policy, no percentages, administration fee left open: Cresor, fee policy (PDF) (consulted 4-11-2026). Data date: 2026-11-04.
• Estateguru (no. 5, 1-6-2023) and InRento (no. 45, 23-2-2026) in the list of European providers offering services in Spain; ClubFunding (no. 17) and Raizers (no. 6): CNMV, European crowdfunding service providers (consulted 4-11-2026). Data date: 2026-11-04.
• Estateguru: minimum €50, European licence since 2023, new loans in the Baltics since 2023, no list of countries of residence: Estateguru, investor FAQ (consulted 4-11-2026). Data date: 2026-11-04.
• Estateguru: €958 million financed, 160,023 investors, €100.3 million in interest, more than 97% of loans since 2023 repaid or up to date, losses on German loans of 2021-2022: Estateguru, portfolio statistics (consulted 3-11-2026). Data date: 2026-11-03.
• Estateguru: historical return 9.47%, LTV 62.90%, term 14 months, late 0.52%, failed 1.06%, in recovery 3.48%, fees: Finantres, Estateguru (consulted 3-11-2026). Data date: 2026-05-08.
• Estateguru: investor fees (0.083% management fee capped at €100, withdrawal, inactivity, secondary market, spread): Estateguru, price list (consulted 4-11-2026). Data date: 2025-11-01.
• Estateguru: warning of probable losses on the German portfolio: Alternative Credit Investor, Estateguru warns of losses on German portfolio (consulted 3-11-2026). Data date: 2025-02-13.
• InRento: minimum €500, average annual 11.56%, 0% of projects in arrears, €136.84 million invested, 5,768 active investors, Bank of Lithuania licence: inrento.com (consulted 4-11-2026). Data date: 2026-11-04.
• InRento: actual return 11.82% against 9.35% expected, fees, reviews with delays on the secondary market: Finantres, InRento (consulted 3-11-2026). Data date: 2026-05-08.
• InRento: investor fees, no effective date: InRento, price list (consulted 4-11-2026). Data date: 2026-11-04.
• Lofty: about $50 per stake, more than 40,000 investors, more than $100 million, example yields, not a broker-dealer or registered adviser: lofty.ai (consulted 3-11-2026). Data date: 2026-11-03.
• Lofty: fees, 30% withholding without an ITIN (single source), SEC filings, sales above purchase price: crowdfundedwealth.com, Lofty review (consulted 3-11-2026). Data date: 2026-10-16.
• RealT: 6-16% income advertised, more than $29 million distributed, more than 65,000 investors, no suspension notice on the website: realt.co (consulted 3-11-2026). Data date: 2026-11-03.
• RealT: payment suspension, voluntary liquidation, lawsuit by the City of Detroit (no. 25-010288-CH), restraining order, special fiduciary; no insolvency file found: crowdfundedwealth.com, RealT review (cites Outlier Media) (consulted 3-11-2026). Data date: 2026-10-13.
• Brickfy: main website operational, minimum €5, "© 2026": brickfy.com (consulted 3-11-2026). Data date: 2026-11-03.
• Brickfy: Spanish version with a 404 error and the text "Under Maintenance": brickfy.com/es (consulted 3-11-2026). Data date: 2026-11-03.
• Brickfy: user review about a temporary suspension of deposits (unconfirmed opinion): Trustpilot, Brickfy (consulted 3-11-2026). Data date: 2026-07-04.
• Brickfy: "Not regulated" classification in a directory: TheCrowdSpace, Brickfy (consulted 3-11-2026). Data date: undated (consulted 2026-11-03).
• Brickstarter: no open opportunities: brickstarter.com/es (consulted 3-11-2026). Data date: 2026-11-03.
• Fundeen: renewables and sustainable projects, not real estate; no. 3; cites Law 18/2022; warning of no guarantee fund: fundeen.com (consulted 3-11-2026). Data date: 2026-11-03.
• Civitae: one project financed and €1.5 million raised; cites Law 18/2022 and Regulation 2020/1503; warning of no guarantee fund: civitae.com (consulted 3-11-2026). Data date: 2026-11-03.
• SEGO Real Estate: belongs to Sociosinversores 2010 (PSFP no. 7): Estrategias de Inversión, best real estate crowdfunding platforms (consulted 3-11-2026). Data date: 2026-09-23.
• CNMV PSFP register: registration numbers and dates; Reental and Inveslar are not listed: CNMV, register of crowdfunding service providers (consulted 3-11-2026). Data date: 2026-11-03.
• 27 entities registered in the PSFP register at the end of 2025: CNMV, Annual Report 2025 (p. 29) (consulted 3-11-2026). Data date: 2026-05.
• 2024 sector: €522.5 million raised, €366.2 million real estate, Urbanitae, Civislend and Wecity in the lead with about €320 million; Fellow Funders and Dozen merged into Grupo Orbyn: Universo Crowdfunding, 2024 report (consulted 3-11-2026). Data date: 2026-02.
• 2025 sector: €761.6 million raised and €566.2 million real estate (summary note): Universo Crowdfunding, summary note on the 2025 report (consulted 3-11-2026). Data date: 2026-11-03.
• Regulation (EU) 2020/1503: €5 million threshold, art. 21 knowledge test and loss simulation, art. 22 reflection period of 4 days, art. 25 bulletin board: Regulation (EU) 2020/1503 (consulted 3-11-2026). Data date: 2026-11-03.
• Reental: minimum €100 (1 token = €100), average historical IRR 16.5%, €106.9 million tokenised in 128 projects, 77 live for about €87 million, 51 closed for about €19.9 million, no public incidents declared: Reental, data provided by the company, 4-Nov-2026. Data date: 2026-11-04.
• Reental: direct sale to an accredited user, structure by country, 1 token = €100: Reental, FAQ (consulted 3-11-2026). Data date: 2026-11-03.
• Reental: estimated returns of 9.5-12% on the projects in the listing: Reental, property listing (consulted 3-11-2026). Data date: 2026-11-03.
• Reental: what it offers is not advice: Reental Wealth (consulted 3-11-2026). Data date: 2026-11-03.