How Brits are affording second homes on the Coast of Spain

While many Brits dream of owning a luxury villa on the sunny coast of Spain, a select few are making that dream a reality.

And no, they do not invest millions of euros.

Arrilo, an emerging Lithuanian startup, is making second homes accessible through a fractional ownership model. A method that allows several families to own and equally share their time in one luxury property.

"Research shows that more than 10 million European families dream about owning a second home," says Martynas Nikolajevas, CEO of Arrilo. "Yet at the same time, most second home properties are unoccupied 80% of the time. It only makes sense that several owners share one premium home. This model allows fully utilising the property, plus requires a smaller initial investment from homeowners."

According to Arrilo, most second homeowners flock to Spain, particularly Costa Del Sol. Apparently, around 40% of property buyers in Costa Del Sol are British citizens.

The most desired location comes as little shock. Miles of sandy beaches, around 325 sunny days per year and lush golf courses have made Costa Del Sol one of the best vacation spots for several decades. With the luxurious life of Marbella and Estepona's rich character, this Spanish region has something for everyone.

And with two international airports providing easy access, it becomes obvious why buying property in Costa Del Sol may seem the ideal choice for holidaymakers.

In recent years, the emerging fractional ownership model has proven to be a unique way to own more for less. Brits who prefer more open and bigger spaces can opt to invest in shares of luxury properties, instead of saving for a lifetime to buy them on their own.

With fractional ownership, people are still legal owners of the property and can handle their shares as they see fit, including renting or selling the estate when the need arises.

One home with several owners requires property management, and this is where Arrilo comes in. The team has introduced a smart scheduling app, which allows all owners to get their equal share of time at the property throughout the year. In addition, Arrilo takes over other problems like property cleaning and renovations, leaving all owners to enjoy their stays fully.

This fractional ownership model is not a recent innovation. "For the past few decades, managed co-ownership (or fractional ownership) has been successfully utilised in private jet and luxury yacht space," says Mr. Nikolajevas. "It's time to apply that knowledge and bring innovation to second homes. To make upscale second homes affordable to many more Europeans."

Learn more about the benefits of choosing fractional ownership for your second home at arrilo.com