Fintech firm BrickX has created a way for people to invest in property with a fractional ownership model within the Australian market. The company is launching its first product this week and it will allow investors to buy shares of residential properties at an interest rate that can be adjusted by up to 50 per cent each month. BrickX CEO Anthony Millet said bricks change hands in a matter of hours and revealed blue-chip, popular suburbs perform better in the long term. For example, a single brick in a two-bedroom suburban Sydney house costs AUD95 ($72), with investors receiving a share of rental income in proportion to their holding.
Fintech firm BrickX has created a way for people to invest in property with a fractional ownership model within the Australian market. The Sydney-based firm offers investors the chance to buy "bricks" in a property, with nine assets under management in its home city and two in Melbourne. BrickX CEO Anthony Millet said bricks change hands in a matter of hours and revealed blue-chip, popular suburbs perform better in the long term. For example, a single brick in a two-bedroom suburban Sydney house costs AUD95 ($72), with investors receiving a share of rental income in proportion to their holding.