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Investor perspectives on property crowdfunding: evidence from Australia

Lowies, Braam, Viljoen, Christa and McGreal, Stanley (2017) Investor perspectives on property crowdfunding: evidence from Australia. Journal of Financial Management of Property and Construction, 22 (3). pp. 303-321. [Journal article]

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DOI: 10.1108/JFMPC-12-2016-0055

Abstract

This study’s objective is to investigate the perceptions of property investors of the risks and returns associated with property crowdfunding as an investment vehicle. The study contributes to the understanding of alternative property investment vehicles and how it is perceived by investors.The study focus on investor perceptions in using property crowdfunding as investment vehicle and follows a survey-based design. A questionnaire was finalised after completion of a pilot study and was distributed to existing property crowdfunding investors via email. Inferential statistical measures were used.The results show, to an extent, similarities to general equity-based crowdfunding studies. However, the uniqueness of property crowdfunding as investment vehicle may explain the insignificance of the results when related to other studies. Overall, the property crowdfunding investor seem to present cautious behaviour with a conservative perception of property crowdfunding as investment vehicle.It is recommended that property crowdfunding platforms present prospective investors with more formal regulation of the property crowdfunding industry. Such a regulatory framework may lessen the current level of uncertainty presented by investors.The study enhance the understanding of the role of property crowdfunding as alternative investment vehicle in Australia. More importantly, it went some way towards enhancing understanding of how investors perceive and behave vis-à-vis property crowdfunding as investment vehicle.

Item Type:Journal article
Keywords:Crowdfunding, property investment, investor behaviour, investment decision making
Faculties and Schools:Faculty of Art, Design and the Built Environment
Faculty of Art, Design and the Built Environment > School of the Built Environment
Research Institutes and Groups:Built Environment Research Institute > Centre for Research on Property and Planning (RPP)
Built Environment Research Institute
ID Code:37346
Deposited By: Mrs Sadie Magee
Deposited On:17 Jul 2017 08:32
Last Modified:07 Nov 2018 23:23

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