BRICKX platform lets Aussies invest in property for $100
A new real estate investment platform has said it will allow Australians to invest in property for as little as $100.
BRICKX, which aims to launch this month, is a property investment platform which says it will enable consumers to invest in property at a much lower price point than traditional investment.
“Soaring prices mean by the time you’ve saved a deposit, it’s probably not enough for a deposit anymore. And with stiff competition, properties get snapped up before you’ve even gotten a chance to see them,” the company said in a promotional video.
The company said it buys residential property and splits the property’s value into 10,000 segments, or “bricks”.
“With every brick you own, you have the potential to earn money from rental income each month,” the company said.
BRICKX said investors could also see capital returns when they sell their investment.
The company said its platform would also provide detailed investment cases on each property, including acquisition cost breakdowns, third-party valuations and historical suburb returns.
The platform launches against a backdrop of rising house prices in Sydney and Melbourne that could see younger generations struggle to buy property. Reserve Bank governor Glenn Stevens recently told News Corp parents would have to put their own money forward in order for younger Australians to afford property.
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