A new property company, ‘Owners’, is introducing the concept of co-ownership of luxury holiday homes to the Greek market. This innovative model allows multiple buyers to purchase shares in a luxury property, providing a more affordable option for those seeking a holiday home. (source: Greekcitytimes.com)
The co-ownership model offers several advantages, including shared ownership costs, professional property management and the flexibility to buy between 1/6 and 1/2 of a property. The concept is well-established in other countries, such as the United States, and has varying share structures in Italy and France.
‘Owners‘’ ensures that all properties for sale undergo rigorous technical and legal examinations to guarantee their quality and condition. The company’s platform and app provide a seamless experience to manage shared ownership and scheduled utilisation of the property.
The target market for co-ownership includes Greeks seeking affordable holiday homes, foreign clients and business people. The shares are transferable and inheritable and can be sold after a three-year holding period, subject to the approval of the legal entity determined by the bank (SPV). Elias and I had a video meeting with the owners and if you are interested in investing in this model you can contact me via email.
