Smart investment to buy luxury second homes.
Updated: May 16, 2022
For those who want rest time in a wonderful place... with the sea, white sand beaches, water sports and golf, walks, leisure, gastronomy... and the intimacy of a fantastic villa arranged with all the details to indulge in the most absolute enjoyment. Also for those who prefer to have more than one destination to escape during the year, dividing the investment in different places. Or big families that distribute dates and expenses. Any excuse is valid to buy a second home on the Costa del Sol at an attractive price.
High standing and luxury villas are finding new ways of marketing. There are already companies in our Spanish market that offer the co-ownership purchase system: dividing the acquisition of a big villa among 8 parties. Each one buys a share (they can acquire up to a maximum of 4 shares) and enjoys proportionally the corresponding days per year (approximately 44 nights, according to the proposal).
According to statistics, less than 25% of owners spend more than one month a year in their second homes, and expenses like this are not always worth it. This may be one of the reasons that make these co-ownership systems a trend that is imposed.
How does it work? The companies that sell this system are property managers and offer comprehensive management to coordinate absolutely everything: calendars, stays, general house maintenance, hiring, payments and distribution of expenses, and the requirements of each of the owners.
And to show… the numbers that speak for themselves. For example, in a luxury villa in Marbella with a total sale price of 2.9 million euros, a fraction can be purchased at 357 thousand euros. In this way, the shareholder enjoys the property on different dates of the year with monthly expenses of around 300 and 400 euros per month with everything included. That's it. It's a temptation, right?