Opoly opens up real estate investing from $100 with first successful deal.
Over the weekend, Opoly successfully hit the funding goal on their third property crowdfunding deal allowing everyday Kiwis to co-purchase an Oamaru section for $105,000.
By investing a minimum of $100 per share, 115 members of the public will become co-owners of the property. They will have a share relative to their investment and will hope to see capital growth in three year’s time when forecasted suburban growth is achieved.
The most investors came from Auckland (32), Wellington (27) and Canterbury (13) with investors from 14 of the 16 regions. The 2 regions without any investors were Gisborne and Southland. There was also 1 overseas investor.
The concept is called ‘blockified property’ and is the brainchild of Opoly Founder, Felix Watkins.
“We are excited to make property investing accessible and possible for all Kiwis, regardless of their wealth status”, says Mr Watkins.
1,050 shares were sold at NZ$100 per share, which represents 100% of the company.
The property is located at Lot 33 Ashburn Street in Oamaru.
“We decided to focus on Oamaru as population density has been increasing, signalling the supply of land being made available, is not keeping up with rising population growth. Unlike many other asset classes, land is tangible, and with this current climate, it is hard to see land going down, as population grows into the future,” explained Watkins.
You can find out more about Opoly and and be notified of future offers by visiting: