Crowdfunding real estate and taxes what you need to know
Real estate crowdfunding has established itself as one of the most accessible ways to invest in property without needing to buy an entire asset.
According to the latest data from Research Nester, this business generated $22.1 billion worldwide in 2025, and it is expected that over the next 10 years this figure will exceed $900 billion.
Thanks to crowdfunding platforms, any investor (including small savers) can access real estate projects with low minimum amounts and potentially attractive returns.
Real estate investment reached €17 billion in 2025, 30% more than the previous year, according to data from the Association of Real Estate Consultancies (ACI).
However, like any financial investment, it has tax implications that are worth understanding and managing correctly.
What is real estate crowdfunding?
Real estate crowdfunding is the collective financing of real estate projects through online platforms authorized by the Spanish National Securities Market Commission (CNMV).
These platforms connect developers who need funding with investors who contribute money in exchange for an economic return (interest or profit participation).
There are two main models:
- Crowdlending (or debt crowdfunding): the investor lends money (like a loan) and receives periodic interest.
- Crowdequity: the investor acquires shares or equity stakes and participates in the profits from the sale or rental of the assets.
How is real estate crowdfunding taxed in Spain?
The most common form of taxation (especially when it involves interest or periodic returns) is as income from movable capital in the savings tax base of Spanish personal income tax (IRPF).
This means that the profits you earn from your real estate crowdfunding investments are added to other savings income such as dividends, account interest, or deposits, and are taxed progressively.
This assumes you are the investor as an individual. If you are a company (legal entity), the profits obtained are taxed under the general Corporate Income Tax rate (25% for SMEs).
Tax rates
The current brackets (for 2025) for the savings tax base in Spain are as follows:
| Savings income | Tax rate |
|---|---|
| Up to €6,000 | 19% |
| €6,000 – €50,000 | 21% |
| €50,000 – €200,000 | 23% |
| €200,000 – €300,000 | 27% |
| More than €300,000 | 28% |
These rates are progressive and apply to your total savings income (not only crowdfunding).
What do you need to report on your tax return?
Interest and returns
If you earned interest or periodic returns, you must include them in your IRPF return in the boxes corresponding to income from movable capital.
If a Spain-based platform withheld taxes automatically (withholdings), this will appear on your tax certificate and will be deducted from what you owe.
When investing through foreign platforms and the value of assets outside Spain exceeds €50,000, there is an obligation to file Form 720.
If you have already paid taxes in the source country, you may apply double taxation relief if there is a tax treaty between Spain and that country.
Capital gains
If your investment generated capital gains from the sale of shares/participations or profit distributions, these are treated as capital gains and are also taxed in the savings tax base using the same brackets.
Can I offset losses?
Yes. If you had losses in any project, they can be offset against gains in the same year, reducing your total taxable base. If losses remain after offsetting, you can generally carry them forward to offset in the following four years.
Examples step by step
Example 1 Crowdlending with interest
Imagine that in 2025 you received:
- Crowdfunding interest: €4,000.
- Bank deposit interest: €1,000
Total savings income: €5,000.
- Both amounts are added together: €5,000.
- Apply the bracket rate: 19% (since it does not exceed €6,000).
- If the platform withheld 19% of that interest (€760), it would have already paid that amount, and you would only need to report it in your IRPF, but you would not pay more tax for it.
Example 2 Gains from selling participations
Suppose you sell participations in a project and obtain:
- Sale price: €10,000
- Original purchase price: €8,000
- Net gain: €2,000
That gain is considered a capital gain and is added to your other savings income to be taxed under the same progressive scale.
Are there any specific deductions or tax benefits?
Unlike some vehicles such as pension plans or certain financial products, real estate crowdfunding does not have a specific tax deduction in IRPF by itself. It is taxed like any savings income. However:
- If you are a non-resident and receive income from Spanish sources, you may be subject to fixed withholdings depending on your status and country.
- Some projects may generate expenses that reduce the taxable base if properly justified.
It is advisable to carefully read the tax documentation provided by each platform.
Tips to report correctly
Keep your tax documentation
Platforms usually provide an annual tax certificate with withholdings applied and income earned. This is key for your return.
Classify your income properly
It is important to differentiate between:
- Interest (income from movable capital).
- Capital gains.
- Possible offsettable losses.
Consider professional advice
Given the complexity of certain investments (especially international ones or those structured as SOCIMIs or other vehicles), it may be advisable to use a tax advisor or accountant specialized in investments.
Investing with tax knowledge not only helps you comply with the law, but also to optimize your gains.
