Startups Bringing Second Home Ownership to the Masses

It can be the stuff of dreams – the ability to own a second home. Whether on the beach, in the countryside or in the mountains, the idea of ​​acquiring a Bolthol that doubles as an investment opportunity has always been out of the reach of ordinary people.

However, two new companies are trying to change that, with a model of second homes that enable everyone to win. As I mentioned Le Figaro, the model is relatively simple. People can buy a third, eighth or any other part of the house they want to use as a second home, which is advertised on the websites. You share the costs of the building with the other owners (which is managed by the company) and you can use the house for the number of days that corresponds to your investment percentage – a carefully designed algorithm ensures that the sharing is done fairly in terms of dates.

Altacasa — a startup that recently raised €2 million ($2.3 million) in funding — shows how the concept differs from timeshare in that people own the property and not just have the right to use it, dates are not fixed each year (allowing increased flexibility) and properties are homes Single, not massive apartment buildings. Crucially, too, resale is done at market value and is not determined by property managers. Said Roman St. Gilham, founder of Altacasa Le Figaro That the company’s goal is to sell shares in a dream, as well as to improve real estate investment with unrestricted use of real estate.

Prello, another startup that just received 1.75 million euros ($2 million) in funding, uses the same model, splitting the holdings into a maximum of 8 shares. Each co-owner is entitled to use the property, whether it is an Alpine chalet or a farmhouse in Normandy, for 44 nights a year, which is the average occupancy of a second home in France.

Prello currently owns properties that can be jointly owned throughout France and Altacasa has properties in Spain and the Balearic Islands as well.

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