Great timing! While BoursoBank had never before offered unlisted real estate funds directly, it chose a period of slump to approach this market. The situation is indeed delicate for these supports which have suffered from the rise in interest rates, which has caused the prices of professional real estate to waver, in particular that of offices. According to the French Association of Real Estate Investment Companies, the net collection of SCPIs, civil real estate investment companies, amounted to 781 million euros in the first quarter of 2024, down 68% year-on-year.
Experienced managers
However, investing today is not necessarily a bad idea. On condition of selecting products in line with the market. “There is a premium for youth,” underlines Xavier Prin, marketing and communications director of the bank. The absence of history, and therefore of assets, is the marker of the SCPIs selected by BoursoBank, but with experienced managers: Mistral Sélection, from Swiss Life Asset Managers France, and Sofidynamic from Sofidy.
“Our specifications were very demanding: products at the best price, a fully digitalized subscription process, reference players and a good distribution of value,” continues Xavier Prin. The first has no entry fee, the second charges 2%, reimbursed by the bank until the end of the year. Other vehicles could follow. The bank aims, in the longer term, to integrate real estate into its managed management.