its-good-to-share

It’s good to share

15.05.19

Fractional ownership of second homes is continuing to grow apace as buyers recognise it as an astute option for owning their own luxury holiday home. Luke Thomas ­finds out more

With a background in the sector spanning over a decade, Lighthouse is at the forefront of this innovative and evolving sector of holiday home ownership in Europe.

“We have seen signi­ficant growth in the ownership of second homes between small groups of like-minded individuals” explains Lighthouse director Joanna Bishop.

“What started with the sale of mainly resort based properties on a fractional basis has developed so that Lighthouse is now focusing on group ownership of high quality individual holiday homes that offer flexible accommodation for owners and their friends and family to enjoy.”

Ownership of a luxury second home creates a feeling of exclusivity. Although ownership is shared, most properties have no more than six or eight owners and some as few as two. There is no typical buyer - many people can afford to buy a second home outright, but recognise the absolute sense of sharing with a few other like-minded families the cost of buying and owning a property they won’t use full time.

“When we discuss the concept with buyers, it’s often an option they hadn’t considered but they quickly see the obvious bene­fits,” says Joanna.

“Whilst most buyers are interested in a luxury holiday home they can use with their friends and family throughout the year, we have also dealt with buyers who have other motivations. Some have purchased a home to use for two months each year to run art, cookery or yoga courses.”

In addition to establishing the ownership structure for groups, Lighthouse also operates Sojourn8, one of the few portals dedicated to the promotion of luxury second homes for group purchase. The site has an eclectic mix of properties including chateaux, ski lodges and villas in France, a portfolio of apartments in Paris and restored country homes in the Tuscany and Le Marche regions of Italy. Group ownership is also proving popular in the UK with homes in the popular holiday destinations of the South Hams area of Devon and the Scottish Highlands.

“It’s certainly an exciting time to be involved with group ownership of second homes. Our buyers are savvy individuals and families who recognise the bene­fits of owning their second home with a few other like-minded owners,” adds Joanna.

Abode Affiliates

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  • Prestige Architects
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  • Dominic McKenzie Architects
  • The Coastal House
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  • Luxe Caribbean Properties
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  • Tina Shone Group
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