Crowdfunding Real Estate: Institutions and Markets. An Institutional Comparison on the Growth-patterns and Behaviour of Crowdfunding Real Estate Markets in the Netherlands and United States

Crowdfunding Real Estate: Institutions and Markets. An Institutional Comparison on the Growth-patterns and Behaviour of Crowdfunding Real Estate Markets in the Netherlands and United States

Marchand, F.I.

Daamen, T.A. (mentor)
Koppels, P.W. (mentor)

Architecture and The Built Environment

Real Estate & Housing

Urban Development Management

2016-01-22

This study compares the growth-patterns and behaviour of crowdfunding real estate in the United States and Netherlands. An institutional approach is adopted to find dominant and favourable factors that require stimulation in the Netherlands. Empirical data is gathered through a twofold mechanism of document analysis and semi-structured interviews. The analysed documents include laws and legislation, policy frameworks and guidelines, governmental memos and such. Interviews were held with experts and market-players in the United States and Netherlands. It can be concluded that alignment of the dominant factors in crowdfunding real estate with the nation's institutional principles and welfare situation are vital to the emergence of a resilient and viable crowdfunding real estate market. Stimulating these factors requires the effort of both government and market. The Dutch government is required to initiate and support crowdfunding in combination with a cooperative regulator (AFM). Additionally, market players should seek relationships with established forces to facilitate liquidity in the market. Lastly, offerings by the market players have to match the welfare situation of a nation, represented in the decision-making process of the crowd.

crowdfunding
real estate
institutions
United States
Netherlands

http://resolver.tudelft.nl/uuid:785a36c8-2a5b-4d5f-84a2-b60093491551

Student theses

master thesis

(c) 2016 Marchand, F.I.