Filipino realty-tech company Signet Properties has announced the official launch of Flint, a tech-enabled real estate crowdfunding platform.
The platform, powered by SeedIn PH, a business financing platform in Southeast Asia, enables locals, foreigners and foreign-born investors to invest in available investments on it.
Andre Mercado, Signet Properties CEO, said: “We are most excited about this latest innovation because it will finally provide opportunities for anyone who is hesitant or is overwhelmed with the process of investing in Philippine properties.”
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In the Philippines, the traditional real estate process follows a certain way — buyer hunts for properties online, which is then linked to a certain real estate seller or broker. The buyer and broker go back and forth, with the former agreeing to a total contract price that is worth millions of pesos.
Then they undergo the tedious process of fulfilling property ownership requirements, which may involve more money and time until the contract signing.
And for most Filipinos, the contract signing does not involve actual ownership turnover yet. The contract signing may only signal the start of paying off the downpayment needed to signify the intention of ownership. As such, return on a real estate investment takes a long time.
With real estate crowdfunding via Flint, the turnaround time of the return on a real estate investment is much faster, the company claimed in a press note.
Traditionally, crowdfunding platforms require all investors to achieve an aggregate amount to fund the investment of a real estate property. At Flint, all properties available for investment are pre-funded.
What this means is that with as low as Php1,000, users can quickly purchase a share of the real estate property (or more) regardless of the percentage of the total Flint investment reached.
Pre-funding the properties also allows Flint to secure higher interest rates and accelerate investment closing so that users can earn the return of their investment much quicker than the traditional industry average.
The properties are brokered by RE/MAX Premier Manila, a broker franchise affiliated with RE/MAX International.
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Founded in 2018, Signet improves the online property hunting and investing experience. It claims to have delivered innovative solutions such as the 360-degree property aerial map, 3D model view, and a commute map integration with its web and mobile service Sakay.ph.
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