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Co-ownership of second homes for European buyers

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The idea of sharing ownership with friends and family is not a new trend. But as a commercial arrangement in Europe between unconnected parties, awareness has only started to grow in the last few years - mainly amongst buyers from the UK.

In the United States, co-ownership has been understood and accepted by purchasers for much longer, although many schemes are either based on timeshare with no 'bricks and mortar' ownership, or on the residence club model where large resorts offer a wide range of leisure services and owners may not stay in the same apartment each time they visit.

The European experience and perception of timeshare is more negative than in the United States and that may explain why interest in the co-ownership model has seen slower growth. But that's all changing.  At least 25 start-ups have entered the co-ownership sector since 2020 offering shares in luxury, individual homes. Developers and agents are also seeing the benefits of adding a co-ownership option to their sales mix.

 

This has certainly helped increase awareness and understanding of this savvy alternative to whole ownership. Increasing numbers of European buyers are now seeing the compelling benefits of co-owning a luxury second home with a few other like-minded families. 

 

Sojourn8 is at the forefront of this growing trend. Although 50% of the enquiries we receive are from the United States and Canada and we're delighted that Europe is so popular with North American buyers, we continue to work hard raising awareness with European buyers of this innovative but simple way to own a second home. 

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