Estateguru Funded New Projects Worth 23 Million Euros in Three Months

In the first quarter, the crowdfunding platform Estateguru financed new real estate projects worth 23 million euros, of which 8.2 million euros were in Estonia.

Estateguru financed a total of 178 different projects in the first quarter, with 3,235 new investors joining the platform. "Today we see that the real estate market in the Baltic states has recovered from its downturn and is coming to life among developers, buyers, and investors alike," said Estateguru's head Mihkel Stamm, who was optimistic about the market's development prospects, but added that it will take time to return to the volumes from a year or two ago.

According to Stamm, rising interest rates have also brought higher returns to investors participating in crowdfunding. "While last year our investors' average annual return was 8.62%, that figure for the first quarter of this year was already 9.56%," described the head of Estateguru.

The assets under management on the Estateguru platform totaled 295 million euros at the end of the first quarter, which is 16% more compared to a year earlier. Over 156,000 investors have joined the Estateguru platform, who have financed real estate-backed loans worth more than 700 million euros.