It takes a village to house one.
Aldeia turns community money into apartment buildings rented at least 20% below market, with every deed, rent and audit published. There are two ways in: hold the Aldeia token to fund the first-loss capital and vote on where the next building goes, or, if you live in the EU or EEA, buy a bond secured on one building and receive a share of its rent.
The Aldeia token: fund and steer
A governance token on a public blockchain. Its sale proceeds become the 25% first-loss capital in each building, lent at 0%. Holders vote on which city and building comes next. It pays no rent, no yield and no dividend, and it may lose all of its value.
- Gives
- A binding vote on the next building, and the data room for every one
- Never gives
- Rent, yield, buyback, redemption or any claim on the buildings
- Who
- Anyone, without identity checks. Not US or UK residents
- Money
- At risk. Every €1 unlocks about €4 of capped-rent housing
The building bond: receive the rent
A €100 bond issued by the Portuguese company that owns one building, secured by a mortgage on it, sold only through a licensed EU crowdfunding platform after identity checks. It pays a fixed base coupon plus a share of the rent profit.
- Base coupon
- 1.25% fixed, set below the worst modelled case (1.45%)
- Target total
- About 3% a year. Not guaranteed. Stress case 2.2%
- Security
- Mortgage on the building, held by an independent trustee
- Who
- EU / EEA residents, verified on the platform. Not US or UK persons
Indicative, from the draft whitepaper v0.5. Bond terms will be fixed in the platform's Key Investment Information Sheet; token terms in its offer document. See every assumption behind the numbers.
Homes became an asset class. Rent became the yield.
Source: Eurostat, July 2025. Portuguese prices rose another 18.9% in the year to Q4 2025 (Eurostat via Eunews).
A two-bedroom flat in a Portuguese secondary city at €1,100 a month needs about €3,100 of gross household income to keep rent under 35% of income. At our capped rent of €880 it suits a household on about €2,500. The people who live in a city rarely own any of its housing, so rising rents flow to whoever already owns the buildings.
A small layer of patient money unlocks a lot of affordable housing.
Buying at market price and renting 20% below pays a lender about 1.6% in Portuguese secondary cities. That is not enough to attract the €3M of bonds a building needs. A 25% first-loss layer at 0%, funded by token holders, closes the gap, together with three levers already in Portuguese law or in the deal itself.
| Lever | Worth to bondholders, approx. |
|---|---|
| First-loss layer from the token: 25% of each building's capital, lent at 0%, repaid last | +0.8pp |
| CIA contract with IHRU: no purchase tax or stamp duty, no IMI for 8 years, no AIMI | +0.8pp |
| Whole building bought ~15% below market | +0.6pp |
| Building-scale company (€3–5M) so fixed costs stay at or below 0.6% of capital | Required |
See the full yield build-up, stress case and pilot figures →
From a vote anywhere in the world to a front door in Portugal.
Holders vote
Token holders pick the next city and building from a shortlist that has passed a legal and financial gate.
Escrow fills
Token proceeds sit in euro escrow for that building. They move only when the deed is registered and the council has voted.
Bonds fund the rest
EU residents buy €100 bonds for the named building on a licensed platform, for about 75% of the price.
Rent fairly
Homes are let to eligible households at or below 80% of the median rent, on leases of at least three years.
Prove it
Rent flows into an audited account. Bondholders are paid from it each quarter. Deed, occupancy and rent collection are audited and published.
Read the full process, the money flow and the payout waterfall →
Why a RealT cannot happen here.
RealT sold tokens on homes it did not own, reported 2% vacancy against about 20%, and kept paying dividends until it was liquidated. Each of its failures has a control here that someone independent checks.
For tenants
- Rent at or below 80% of the INE municipal median per m², and at least 20% below market.
- Rent kept at 15–35% of household income, with published eligibility criteria per building.
- A lottery among eligible applicants when homes are oversubscribed. No bidding wars.
- Leases of at least three years. Yearly increases capped by the legal coefficient.
- A public complaint channel that the auditor samples, and a six-month maintenance reserve.
For holders of either door
- No token money leaves escrow until the deed is registered in the building company's name. The land-registry access code is published, with its hash on-chain.
- Bond payouts come only from a segregated rent account, reconciled by the auditor. Never from new money.
- An independent trustee holds the mortgage for bondholders.
- Occupancy and rent collection are audited every quarter and published, signed, with a hash on-chain.
- Escrow releases need two of three independent council signatures plus the notary. The founder cannot move the money alone.
Not a yield token
The Aldeia token pays nothing and never will. Anyone who wants the rent walks through the bond door, with identity checks. A token that paid rent to anonymous holders worldwide would be an unregistered security.
Not a meme coin
Fixed supply, no mint authority, unsold tokens burned. Sale proceeds leave the token at once and sit in euro escrow for a named building. The housing never depends on the token's price.
Not a leaderless DAO
A DAO cannot hold Portuguese property and tenants need someone accountable. Holders vote on strategy: which city, which building. A named company owns each building and an audited manager runs it.
Read the case before you decide anything.
Whitepaper
The full memorandum: both doors, the money flow, the controls, governance and risks. Also as PDF.
Door oneThe token
What it gives, what it never gives, how the vote is gated, and why it is sold as a mission, not an investment.
ModelThe numbers
Bond target, stress case and floor, lever by lever, and what €1 of first loss unlocks.
LegalStructure
A non-profit association, one company per building, bonds through a licensed platform, a trustee and an auditor.
Read this firstRisks
What could cost you money through either door, what went wrong elsewhere, and when we would stop.
Updated 17 October 2026Project status
Where we are, what is done, what is next, and a dated changelog.
Be first to know when the first building is named.
Joining is free and commits you to nothing. We will send project updates, the next whitepaper draft and, before anything opens, an eligibility check for the door you chose. Nothing here reserves an allocation.
Prefer email? Write to hello@aldeiaworld.com