Die Regulierung von Immobilien-Crowdinvesting-Plattformen

Most of the capital raised by return-oriented crowdfunding platforms is meanwhile used for real estate financing. In this context, real estate crowdfunding platforms are in conflict between the interests of the participants and their own interests. The author examines the regulation of real estate crowdfunding platforms in Germany. The first part of the analysis focuses on the financing structure and the question whether crowdfunding can close a financing gap in real estate financing. The second part of the analysis discusses regulation under current law from an economic perspective. This research also examines which alternative regulatory measures are suitable to ensure the integrity of the platforms.