Concrete Investing - Risk and return review
Concrete Investing - Returns and loss rates
Concrete Investing – Platform statistics 2026
18000
investors
Concrete Investing – Pros & Cons
About Concrete Investing
What it is
Concrete Investing is an Italian property crowdfunding platform, run by Concrete S.r.l. in Milan since 2018. It sells shares in companies set up to build and sell a single property development, almost all in Milan. It shows 45 developments funded with €86.2 million, 25 of them sold or partly sold, and €58.2 million paid back to investors (homepage, undated, read October 2026). About a third of the money comes from professional investors; it counts 20,000 registered users, with an average portfolio of €42,000.
How it works
You are not lending. You buy shares in the company behind one development, from €5,000 in steps of €1,000. A trust company, Be Trust Fiduciaria, holds the shares on your behalf. There is no interest, no dividend while you wait and no repayment date: money comes back in one go when the finished building is sold, the company repays its bank and what is left is shared out. The platform gives expected holding periods of 12 to 48 months per project. There is no automatic investing.
Returns
On the 25 developments sold or partly sold, the middle (median) result was 21% in total, or 10.81% a year (homepage, undated, read October 2026). This is cash actually paid out, before the entry fee and Italian tax. It leaves out the 20 developments not yet sold, including the five that are late or failed, so it does not take losses into account. The platform advertises expected returns of 10% to 15% a year on new projects. Real holding periods on completed sales ran from 12 to 54 months.
Losses and defaults
One development, Lepontina 7-9 (€2.0 million), is marked as in default: its site was seized by a Milan magistrate and the company behind it became insolvent in 2025, yet its project page still describes the holding period as running normally. That is 2.32% of all money invested (calculated from the platform's own figures). Four more developments, with €8.0 million or 9.29% of money invested, are more than six months past their expected holding period. So 5 of the 20 developments not yet sold are late or failed (as of 24 October 2026). Nothing has been written off yet, and the platform publishes no definition of default or late, no loss figure and no recovery figure. Investors give it a public review score of 1.7 out of 5 (40 reviews, July 2026), mostly over long delays, poor communication and no way out.
What secures your money
Nothing secures your money. You own shares, not a loan, so there is no mortgage, no guarantee, no buyback, no reserve fund and no insurance. If a development fails, the bank and other creditors are paid first and shareholders usually last. Your protections are of another kind: until an offer closes, your money waits in a blocked account at a financial intermediary, and you have seven days to withdraw; afterwards the trust company holds your shares in your interest. The platform publishes expected property values (€899 million in total) but no independent valuation for investors. In plain words: you share in the profit if the building sells well, and you can lose everything if it does not.
Who runs it and its licence
Concrete S.r.l. (VAT number 10097930969, Milan) has been authorised by Italy's financial markets regulator, Consob, as a European crowdfunding service provider since 25 October 2023 (decision 22859), among the first three Italian platforms to receive this licence. It was registered as an equity crowdfunding portal from 24 April 2018. No regulator action against it was found. Its company accounts are filed with the Italian business register.
Fees
There is one fee for investors: an entry fee of 1% to 2.75% of the amount invested, charged once when you subscribe, depending on the project (August 2026).
Getting your money out
You cannot sell early. There is no secondary market and no notice board where investors can trade, and no repayment date. Your money stays in the development until the building is sold, which on the late projects has already taken four years or more.
Our view
Return: High — completed sales paid a median 10.81% a year in cash. Risk: Low (higher means more risk) — the one failed development is 2.32% of money invested, which on its own would be the lowest level, Very Low; we set risk one level higher, at Low, because five of the 20 unsold developments are late or failed, nothing on late projects or recoveries is defined or published, and the public review score is 1.7 out of 5. Risk-return: High on these figures, but the return counts only sales that have happened, not the late and failed projects.
Regulation
License / Regulation: Concrete S.r.l. (VAT number 10097930969, Milan) is authorised by the Italian financial markets regulator (Consob) as a European crowdfunding service provider under Regulation (EU) 2020/1503, decision 22859 of 25 October 2023, for receiving and passing on orders and placing securities without firm commitment. Before that it was a registered equity crowdfunding portal (from 24 April 2018). Investments are not covered by any compensation scheme.
Functionality
For Investors
Useful Information
Yes. Concrete S.r.l. is authorised by Italy's financial markets regulator, Consob, as a European crowdfunding service provider since 25 October 2023 (decision 22859). This does not protect you from losses on the projects.
Until an offer closes, your money waits in a blocked account at a financial intermediary the platform does not name. Then it goes to the development company, and the trust company Be Trust Fiduciaria holds your shares on your behalf.
€5,000 per project, in steps of €1,000, as shown on the project pages. There is no maximum.
The 25 developments sold or partly sold paid a median 10.81% a year (21% in total). One development (€2.0 million, 2.32% of money invested) is in default and four (€8.0 million) are more than six months late (24 October 2026). Nothing has been written off yet.
Nothing. You own shares in the development company, not a loan, so there is no mortgage, guarantee or buyback; if a project fails, shareholders are paid last and can lose everything. The trust company holding your shares and the blocked account before an offer closes protect how your money is held, not its value.
No. There is no secondary market, no notice board and no repayment date; money comes back only when the building is sold. You can cancel within seven days of subscribing.
An entry fee of 1% to 2.75% of the amount invested, once, depending on the project.
If a development company fails, as Lepontina 7-9 did in 2025, its creditors are paid before shareholders, and you may get back little or nothing. If the platform failed, your shares would still be held by the trust company, but following up the projects would be harder.
Its building site was seized by a Milan magistrate and the company behind it became insolvent in 2025. The platform marks it as in default, but its project page still describes the holding period as running normally. No recovery figure has been published.
