Virgil raises €15m to restore equality in access to individual property

As the economic trend is towards inflation, in the residential real estate market, access to real estate credit is becoming more complex, between rising rates and tighter lending conditions. As a result, the vast majority of young working people are still renting, even though 85% of them are convinced that owning their main residence is more economical (source: FNAIM, January 2022). And they’re right: becoming a homeowner is the primary lever for creating personal wealth.

Freedom, Equality, Ownership: Virgil guides young workers towards financial Independence

Virgil answers to the problem of access to property with two original tools: a financial contribution that can go up to €100,000, and support for young aspiring owners at each stage of the acquisition of their primary residence (from the definition of their real estate project to the actual handover of the keys).

For the buyer, Virgil is a "sleeping" partner: in exchange for an investment of 10% of the price, Virgil buys 15% of the apartment and is paid when the apartment is resold (at the latest 10 years after the purchase). Virgil allows young aspiring buyers to become homeowners on average 7 years earlier than the average first-time buyer, for the same amount of rent saved. By helping young working people break through the "stone ceiling", Virgil helps them avoiding the intergenerational transmission of inequalities.

A unique approach for both buyers and investors

Virgil’s investment method is unique in France. On the one hand, it allows young active people to become homeowners, and on the other hand, it allows investors to have access to a highly sought-after asset (residential real estate) while creating an eminently positive societal impact without giving up their performance objectives. Virgil makes it possible to invest in real estate without searching for properties, without rental management, or without maintenance. "We are developing a groundbreaking solution that meets the expectations and needs of both young active people and investors" explain Saskia Fiszel and Keyvan Nilforoushan, Virgil’s two co-founders.

Since its launch three years ago, Virgil has already financed €50m of real estate in Paris and supported 10,000 people in their projects.

Nevertheless, Virgil wants to go even further: “We want to transform the future of young working people by getting them out of the rental trap. Our raison d’être is to re-establish equality in access to property. It’s about offering a whole generation freedom through financial independence” continues Saskia Fiszel.