Private markets and crowdfunding
Crowdfunding immobilier (property crowdfunding)
Short-term bond lending to property developers, through licensed platforms.
Overview
ASTERALE carries out no crowdfunding activity. The firm is neither a crowdfunding investment adviser nor a crowdfunding service provider. This page presents an asset class for information only. We neither receive nor transmit orders, and we distribute no project.
Property crowdfunding allows lending to developers and property dealers through fixed-rate bonds offered on licensed platforms.
Platforms licensed as crowdfunding service providers offer individuals bonds issued by property developers or property dealers. The bonds finance an operation over twelve to thirty-six months at a fixed rate, with capital repaid at maturity. Interest is subject to the flat tax (31.4% in 2026). There is neither a capital guarantee nor a secondary market. Operator delays and defaults have increased in recent years.
How it works
Bond loan
Twelve to thirty-six months
Coupons
Fixed rate, paid periodically
Repayment
Capital and interest
Key points
Strengths
- Short duration, compared with an SCPI or direct property
- Low minimum investment, €1,000 to €5,000
- Diversification possible across several projects
Points to watch
- High risk of default and delay
- No capital guarantee
- No liquidity for the duration of the project
- Flat tax of 31.4% in 2026 on interest, with no tax wrapper
Who it is for
This asset class concerns investors who understand the property development cycle, spread their subscriptions across many projects and commit only a marginal fraction of their wealth. We do not select, distribute or recommend any project. Subscriptions are made directly with the platforms.
Worked illustration
Example based on assumptions
Assumptions: an investor spreads €20,000 across five €4,000 projects paying 9% over twenty-four months. If every project repays on time, gross interest is €3,600, or €2,470 net after the 31.4% flat tax. The delay or default of a single project wipes out much of the gain.
Regulatory information
This sheet is a general information document of a commercial nature. It constitutes neither personalised investment advice, nor a recommendation, nor a solicitation, and it is not a key information document. Any decision requires a prior analysis of your situation by a duly authorised professional. Investments carry a risk of capital loss. Past performance is no guide to future performance. Taxation depends on each person's situation and may change.
Risk of partial or total loss of capital and of default by the borrower or the project. Delays are frequent. There is no secondary market: capital remains locked in until maturity, or beyond. Diversification across several projects is essential. ASTERALE is involved at no stage of the subscription.
Complaints and mediation
Any complaint may be sent to ASTERALE, 4 allée Django Reinhardt, 94110 Arcueil, France, or to sebastien.bailly@asterale.fr. Failing a satisfactory reply within two months, you may refer the matter to the competent mediator. For financial investment advice: the AMF Ombudsman (Médiateur de l'AMF), 17 place de la Bourse, 75082 Paris Cedex 02 (www.amf-france.org/fr/le-mediateur). For insurance broking and intermediation, banking and payment services intermediation and property transactions: ANM Conso, 2 rue de Colmar, 94300 Vincennes (www.anm-conso.com, contact@anmconso.com).
Information sheet updated on 6 October 2026. Download the sheet (PDF)
Book a meeting
The first meeting, of about an hour, is used to check whether this scheme has a place in your wealth.