Own a share of the homes your city needs.
We buy whole apartment buildings, rent the homes at or below 80% of the local median rent, and pay the net rental income to the people who funded them. You take part through €100 bonds, each secured on a real building.
- Instrument
- €100 bondIssued by the company that owns one building, secured by a mortgage on it
- Base coupon
- 1.25% fixedSet below the worst modelled case (1.45%) so it can be paid in a bad year
- Target total
- ~3% a yearBase coupon plus a share of rent profit. Not guaranteed. Stress case 2.2%
- Rent
- ≤ 80% of medianPortugal's RSAA cap: at least 20% below market
- Who can join
- EU / EEA residentsThrough a licensed crowdfunding platform. Not US or UK persons
Indicative terms from the draft whitepaper v0.4. Final terms will be set in the platform's Key Investment Information Sheet. See every assumption behind the numbers.
Homes became an asset class. Rent became the yield.
Source: Eurostat, July 2025. Portuguese prices rose another 18.9% in the year to Q4 2025 (Eurostat via Eunews).
A two-bedroom flat in a Portuguese secondary city at €1,100 a month needs about €3,100 of gross household income to keep rent under 35% of income. At our target rent of €880 it suits a household on about €2,500. The people who live in a city rarely own any of its housing, so rising rents flow to whoever already owns the buildings.
Below-market rent can still pay a fair return, if the cost base is lower.
Buying at market price and renting 20% below pays holders about 1.6% in Portuguese secondary cities. We close the gap with four levers, all already in Portuguese law or in the deal itself.
| Lever | Worth, approx. |
|---|---|
| CIA contract with IHRU: no purchase tax or stamp duty, no IMI for 8 years, no AIMI | +0.8pp |
| Whole building bought ~15% below market | +0.6pp |
| Impact tranche: 25% of capital at 0% return from foundations, municipality or impact funds, taking first loss | +0.8pp |
| Building-scale company (€3–5M) so fixed costs stay at or below 0.6% of capital | Required |
See the full yield build-up, stress case and pilot figures →
From your euro to a front door, and back.
Verify once
Pass identity checks and the EU appropriateness test on a licensed crowdfunding platform.
Invest
Buy LAR bonds at €100 each for one named building, paying in euro by bank transfer or EURC.
We buy
The building's own company buys it after independent valuation and title checks. Bonds are issued only once it owns the building.
Rent fairly
Homes are let to eligible households at a capped rent, on leases of at least three years.
Share income
Each quarter: the 1.25% base coupon, then a share of the remaining rent profit, with a building report.
Fair to tenants. Clear to bondholders.
For tenants
- Rent at or below 80% of the INE municipal median per m², and at least 20% below market.
- Rent kept at 15–35% of household income, with published eligibility criteria per building.
- A lottery among eligible applicants when homes are oversubscribed. No bidding wars.
- Leases of at least three years. Yearly increases capped by the legal coefficient.
For bondholders
- LAR is a regulated bond, offered only through a licensed EU crowdfunding platform.
- Secured by a mortgage on the building, held by a bondholders' representative.
- Payouts come only from rent collected, never from new investors' money.
- Annual audit and independent valuation. Occupancy and tax-regime compliance checked by an outside auditor.
- A public register per building: price paid, valuation, rent, occupancy, costs and every payout.
- Lost your wallet? Your holding can be recovered after re-verifying your identity.
Not an ICO
A token that pays rent income is a security. It will be sold only through a licensed platform, to verified people.
Not a meme coin
No launch price, no pre-mine, no free team tokens. Each token is a €100 bond secured on a real building.
Not a leaderless DAO
A DAO cannot hold Portuguese property and tenants need someone accountable. Each building has a legal owner and an audited manager.
Read the case before you decide anything.
Whitepaper
The full investor memorandum: thesis, structure, token, payouts, governance and risks. Also as PDF.
ModelThe numbers
Target, stress case and floor, lever by lever, with every assumption stated.
LegalStructure and token
One company per building, participating bonds, the crowdfunding route and the exchange clause.
Read this firstRisks
What could reduce your return or cost you money, and when we would stop.
Updated 14 October 2026Project status
Where we are, what is done, what is next, and a dated changelog.
QuestionsFAQ
Returns, tax, liquidity, eligibility, tenants and who runs it.
Be first to know when the first building is funded.
Joining is free and commits you to nothing. We will send project updates, the next whitepaper draft, and an eligibility check before any offer opens.
Prefer email? Write to housing@pedrocorreia.org