Spain has managed to turn real estate crowdfunding into a profitable business. That in recent years, has raised millions of euros actively. Among many exponents in the market, Housers is perhaps the most representative face of this market. But after certain unexpected events, will this scenario be in danger?

The danger felt by real estate crowdfunding in Spain

In 2008, what’s considered the to be “property bubble” in Spain explodes. At the beginning of this period, the real estate crisis began in this country and would last until 2014. This included a sharp fall in real estate prices in Spain and other consequences. Once the prices stabilized, the Housers platform is founded. One of the most recognized real estate crowdfunding businesses in Spain.

After long years of crisis, things improved remarkably for the real estate market. Housers would arrive to start promoting this business in Spain. In 2015, they would acquire their first property. The first in all Spanish history to be acquired through crowdfunding. Several contributors bought this property for a total of 62,000 euros. This would be the beginning of a success story.

Already in 2017, Housers was a brand positioned not only in Spain. But in other countries such as Portugal and Italy. Becoming a pan-European platform. However, by mid 2018, things would take an unexpected turn. It all started with the departure of Tono Brusola, one of the founders of the company. After this event, it would be revealed that the company had debts valued in millions of euros.

Despite this, this wouldn’t be all that happened. Álvaro Luna, another founding partner of Housers who was still with the company, would have to start mitigating the problems that arose. That same year, before the departure of Brusola, they had to suspend their operations in Italy. Since the Commissione Nazionale per le Società e la Borsa (CONSOB) imposed a prohibition to them. But how does all this affect the Spanish real estate crowdfunding?

Housers and the real estate crowdfunding of Spain

Although it has relatively little time, Housers has become a great company. Part of it is due to its marketing campaigns and the publicity it has had. According to Universo Crowdfunding, it enjoys a good reputation as a crowdfunding platform. And it continues to attract the attention of local Spanish investors. Those who continue to make use of it to buy, sell and/or rent real estate.

For that same reason, it wouldn’t be an exaggeration to think that there would be repercussions if it ceased to exist. According to an article by El Mundo, Housers has invested 42.5% in real estate, up to 58.7 million euros. This platform has more than 87,000 users from Spain, Portugal, Italy and quite possibly other parts of the world. And it has a total of 144 real estate campaigns financed with success.

Housers Real Estate Crowdfunding Platform
Housers has become popular for real estate investment due to the ease of use and diverse options for all types of real estate projects. Source:

All this data demonstrates the great interest of the public with this company. Housers has been surrounded by some controversy and has been subject to suspicion and criticism. And some accuse it of using aggressive marketing tactics to promote itself. But despite all this, it seems to remain as the preferred choice for many investors. Particularly in its country of origin, where it continues to operate actively.

Housers has been working to keep up despite the circumstances. Last month, according to, the company returned 1.7 million euros to 1,700 of its investors. Which according to the aforementioned news, “corresponds to the full capital plus interest and that the profitability reached for the users in both operations has been higher than 10% in a period of twelve months”.

Housers Business
Housers plans to expand its website and bring its business model to other European countries. Source: Loogic

Today, Juan Antonio Balcázar serves as the company’s CEO. For the moment, he seeks to increase its value, increase the portfolio of investors and other objectives. It’s expected that under his management, Housers will recover and improve after the crisis at the beginning of this year. All that remains is to see how events unfold to confirm whether stability is maintained or not.

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How do you see things for this business in Spain?