The Sydney-based start-up, called BrickX, is an online platform that aims to solve the problem of a very hot market where homeowners and investors are finding it more and more difficult to get into the market.
BrickX allows investors to buy a share in a property, called a “Brick”, which actually represents a unit in a property trust managed by the company. Each property is divided into 10,000 “Bricks.” Once all of these are sold, they become liquidly tradeable and the price is determined by demand and supply.
“We recognze that the affordability of property investment is beyond the reach of a large number of Australians, hence we are helping to make purchasing property more accessible by facilitating liquidity and seeking to bring transparency to what has been a convoluted and expensive process for far too long,” said Darren Patterson, CEO of BrickX.
Investors can buy into a property for as little as AU$66 or up to several thousand dollars, and can exit the investment at any time. The company calls it a democratization of the property investment game.
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Clairville, Smith-Ennismore-Lakefield, Saint-Antoine-sur-Richelieu, Manor, Saint John
With prices now well above the $1 million mark, Canada’s hottest real estate markets could take a lesson from a new property start-up in Australia that allows investors to buy a share in a property.