Latest news with #MartinVanBlerk
RNZ News
2 hours ago
- Business
- RNZ News
How to get into the housing market with $80
HomeShare has worked with the Financial Market Authority to finetune its offering. Photo: Supplied/Susan Edmunds If you want to get into the property market, but don't have the money to do so, you may be about to get your chance - again. New fintech start-up HomeShare plans to launch later this year, offering investors the opportunity to buy a share in residential property. If that sounds familiar, that's because it's not the first attempt to offer this sort of investment scheme - The Property Crowd and The Ownery have both tried it within the past decade. In 2022, the Financial Markets Authority suspended the crowdfunding licence of The Property Crowd, after it contravened licensee obligations. No investors were using the platform at that point. The Ownery launched in 2016, offering shares in an Ellerslie house, but there was reportedly underwhelming investor interest and less than a quarter of shares were sold. It has not responded to a request for comment. Homeshare founder Martin van Blerk said the key difference between those previous attempts and his latest was that he had worked with the Financial Markets Authority in its fintech sandbox. The 'sandbox' is designed to encourage innovation, and allow participants to test their new products and services in a controlled environment, getting a better understanding of what the regulator will expect of them and adjusting as required. Van Blerk said HomeShare would offer 10,000 shares in a property based on an independent valuation. Its first property would be in Hamilton. People could buy single shares or many. On an $800,000 property, a share would be $80. Martin van Blerk is aiming for an October launch for HomeShare. Photo: Supplied/Susan Edmunds "The goal is making housing more affordable, more transparent and just easier to access for a lot of people, who'd otherwise be locked out, either because they don't have enough for a deposit or a mortgage, or they just don't know how to go about it." He said he aimed for an October launch and hoped to eventually have properties all over New Zealand. "Instead of buying one property in Auckland, you could buy shares in 100 throughout New Zealand, so it's a great way to diversify risk for property owners." Owners would receive a proportionate amount of rental income from the property and pay a proportional amount of the cost of ownership, including maintenance. People who wanted to exit their investment could sell their shares on HomeShare's secondary marketplace, as long as the price was set within what the company said was a reasonable range. Fees would be charged when shares were bought and sold. For first-home buyers, the fee is 0.95 percent "or slightly higher if you're a traditional investor". Van Blerk said the model had proved popular in other countries. "New Zealand is sort of lagging behind. I think this is a chance to put us at the front of a shift that's happening." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
RNZ News
11 hours ago
- Business
- RNZ News
How to get into housing market with $80
HomeShare has worked with the Financial Market Authority to finetune its offering. Photo: Supplied/Susan Edmunds If you want to get into the property market, but don't have the money to do so, you may be about to get your chance - again. New fintech start-up HomeShare plans to launch later this year, offering investors the opportunity to buy a share in residential property. If that sounds familiar, that's because it's not the first attempt to offer this sort of investment scheme - The Property Crowd and The Ownery have both tried it within the past decade. In 2022, the Financial Markets Authority suspended the crowdfunding licence of The Property Crowd, after it contravened licensee obligations. No investors were using the platform at that point. The Ownery launched in 2016, offering shares in an Ellerslie house, but there was reportedly underwhelming investor interest and less than a quarter of shares were sold. It has not responded to a request for comment. Homeshare founder Martin van Blerk said the key difference between those previous attempts and his latest was that he had worked with the Financial Markets Authority in its fintech sandbox. The 'sandbox' is designed to encourage innovation, and allow participants to test their new products and services in a controlled environment, getting a better understanding of what the regulator will expect of them and adjusting as required. Van Blerk said HomeShare would offer 10,000 shares in a property based on an independent valuation. Its first property would be in Hamilton. People could buy single shares or many. On an $800,000 property, a share would be $80. Martin van Blerk is aiming for an October launch for HomeShare. Photo: Supplied/Susan Edmunds "The goal is making housing more affordable, more transparent and just easier to access for a lot of people, who'd otherwise be locked out, either because they don't have enough for a deposit or a mortgage, or they just don't know how to go about it." He said he aimed for an October launch and hoped to eventually have properties all over New Zealand. "Instead of buying one property in Auckland, you could buy shares in 100 throughout New Zealand, so it's a great way to diversify risk for property owners." Owners would receive a proportionate amount of rental income from the property and pay a proportional amount of the cost of ownership, including maintenance. People who wanted to exit their investment could sell their shares on HomeShare's secondary marketplace, as long as the price was set within what the company said was a reasonable range. Fees would be charged when shares were bought and sold. For first-home buyers, the fee is 0.95 percent "or slightly higher if you're a traditional investor". Van Blerk said the model had proved popular in other countries. "New Zealand is sort of lagging behind. I think this is a chance to put us at the front of a shift that's happening." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
