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Property · Spain · since 2017
Reviewed by Eugene Sokolovs, figures checked 2 Nov 2026
Spanish real-estate crowdfunding platform since 2019, CNMV-authorised: lend against first mortgages or buy into housing projects from €500. Over €690 million financed; repaid projects returned 11.7% a year on average.
Capital at risk. Past returns do not predict future returns; a borrower can pay late or not at all.
Higher means more risk. The platform reports 0% unpaid loans, which alone would mean the lowest level, and loans carry first mortgages. We move it one step worse because the 0% is undefined and undated, extensions are often used, nothing is published on delays or equity projects, and returns count only finished projects.
Fully repaid projects returned 11.7% a year on average (October 2026): a real result, but counted only on finished projects, and drifting lower (10% for projects closed in the first half of 2026).
A high return for a low level of risk, as far as the platform's own figures show. The missing data on delays and equity outcomes is the main reason it is not higher.
Capital at risk. Past returns do not predict future returns; a borrower can pay late or not at all.
Urbanitae is a Spanish real-estate crowdfunding platform based in Madrid, funding projects since 2019. It says it has financed more than €690 million across more than 300 projects and returned more than €250 million to investors (October 2026). Most projects are housing developments in Spain, with newer deals in Italy. It is authorised by the Spanish regulator (CNMV) under the EU crowdfunding rules.
You choose projects yourself, usually from €500, in steps of €10. There are two kinds. In a loan project you lend to a developer at a fixed rate for a set term, for example 11 to 18 months plus a six-month extension written into the contract. In an equity project you buy shares in a company set up for one building and share in the profit when it is sold, after your capital is paid back first; these run longer. You pay in through an online wallet before you invest.
Urbanitae's projects that have been fully repaid returned an average of 11.7% a year (statistics page, October 2026): 12.1% on 50 repaid loan projects and 11.3% on 47 repaid equity projects. These are real results, before tax, but they count only finished projects (97 of about 300); projects still running, extended or in difficulty are left out. The figure has edged down, from 11.86% in July 2026, and the 17 projects closed in the first half of 2026 averaged 10%. For projects still running, Urbanitae expects 11.1% a year on loans and 13.2% on equity, based on its latest monitoring reports.
Urbanitae states that 0% of its loans are unpaid to investors (October 2026). It does not say what counts as unpaid, gives no date, and covers only the 147 loan projects, not the 154 equity projects. It publishes no figure for delays, extensions or losses, and nothing on what was recovered. Delays do happen: six-month contract extensions are often used in full, and investor reviews mention slow projects and little news while waiting (August 2026). No investor capital loss had been reported.
Loans are secured by a first-rank mortgage on the property, plus a pledge over the shares of the project company. The mortgage is held by a guarantee agent on behalf of the investors, and the loan agreement covers the agent's fees and a reserve for enforcement costs. If a developer cannot pay, Urbanitae first negotiates, may agree an extension with a late-payment penalty, and goes to foreclosure as a last step; your interest keeps building up meanwhile. Equity projects have no security: you own shares, and the protection is that investors get their capital back before the developer takes any profit, with the developer usually putting in at least 20% of the money. There is no buyback, reserve fund or insurance, and no published loan-to-value limit or recovery figure. In plain words: a loan has a building behind it; an equity stake can lose value if the building sells for less than it cost.
The platform is run by Urbanitae Real Estate Platform, S.L., in Madrid. It is entered in the Spanish regulator's (CNMV) register of crowdfunding service providers as number 4, since 23 December 2022, under the EU crowdfunding rules. It is not an investment firm or a bank, and investments are not covered by any deposit or investor guarantee fund. We found no regulator action against it.
Investors pay no fee and the account costs nothing. Urbanitae's only charge is an opening fee of 5% to 7% of the funding target, paid by the developer; it is included in the amount raised, so the project carries the cost. For Spanish-resident individuals, 19% tax is withheld on dividends.
You get your money back when the loan is repaid or the property is sold. There is no market to sell to other investors. You can cancel within four calendar days of investing; after that the money stays in until the project ends, longer if it is extended. A feature added in February 2026 lets you queue for places in fully funded projects freed when someone cancels; it is a way in, not a way out.
Return: High — fully repaid projects returned 11.7% a year on average, a real result, though it leaves out unfinished projects. Risk: Low (higher means more risk) — the platform reports no unpaid loans and its loans carry first mortgages, but we move it one step worse because the 0% is undefined and undated while extensions are common, and equity projects are unsecured. Risk-return: High — a double-digit return for a low level of risk, as far as the published figures show.
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Yes. Urbanitae Real Estate Platform, S.L. is authorised by the Spanish regulator (CNMV) as a crowdfunding service provider under the EU rules, register number 4, since 23 December 2022. Investments are not covered by any deposit or investor guarantee fund.
Two payment institutions, Lemonway and Mangopay, hold investors' money, kept separate from Urbanitae's own accounts. You pre-fund a wallet and invest from it.
Usually €500, in steps of €10; some projects set a different minimum.
Fully repaid projects returned 11.7% a year on average (October 2026): 12.1% on loans and 11.3% on equity. The platform states that 0% of its loans are unpaid, but gives no definition or date and publishes no figures on delays, losses or equity projects. No investor capital loss had been reported.
Loans are secured by a first-rank mortgage on the property and a pledge over the project company's shares, held by a guarantee agent for investors. Equity projects have no security; investors get their capital back before the developer takes profit, and the developer usually puts in at least 20%. No recovery figures are published.
No. There is no market to sell to other investors. You can cancel within four calendar days of investing; after that your money comes back when the loan is repaid or the property is sold, later if the project is extended.
None. The account costs nothing; Urbanitae charges the developer an opening fee of 5% to 7% of the funding target, included in the amount raised. Spanish residents have 19% tax withheld on dividends.
If a developer cannot pay, Urbanitae first negotiates, may agree an extension with a late-payment penalty, and enforces the mortgage as a last step; interest keeps building up. On equity, you could lose part or all of your money. Uninvested money is held by payment institutions, separate from Urbanitae's accounts, and the mortgages are held by a guarantee agent for investors; no compensation scheme covers losses.
They are different. A loan pays a fixed rate for a set term and has a mortgage behind it, but your return cannot go above the rate. Equity has no security and no fixed end date, and pays only from the profit when the building is sold, which can be more or less than planned.
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