A villa located in Cala Saona (Formentera), valued at 2.5 million euros, has become the first fractional sale of premium second homes in the Balearics.

A Spanish proptech company that Findhomeabroad works with has been in charge of closing the sale of this villa, sold in shares of 1/8, at a rate of 345,000 euros each, taxes included. The co-owners, set in a Limited Company, are guaranteed their exclusive use for a minimum of six weeks a year, two of them in high season, informs our prop-tech partners in a statement.

“We anticipate great growth in the coming years in the co-ownership of high-end homes in Spain, as it is the first European market for second vacation homes,” says the CEO, who has been very optimistic about the potential of the Spanish market.

“In these first months of operations, we are noticing great demand from national customers in the Balearic Islands, Costa Blanca and Costa del Sol, attracted by the possibility of enjoying a premium experience in exclusive locations for a price adjusted to the time of real use and for the security of the solid legal model developed by Garrigues, one of the most prestigious law firms in our country”, he adds.

The company has oriented its first steps towards the Balearic property market, specifically in Ibiza, Menorca and Formentera (Mallorca is coming), where it closed its first sale.

It is a residence in a unique location, very close to Cala Saona, one of the most valued beaches in Formentera.

The property has a plot of 2,000 meters and has three bedrooms, three bathrooms and an open concept kitchen connected to a living room. It is a villa integrated into the natural environment, with typical Balearic design and architecture, surrounded by a natural forest area, and with large outdoor areas, including a solarium, a porch, a swimming pool and an outdoor bathroom. The decoration follows the wabi-sabi aesthetic, a style based on natural elements and their imperfections.

Carlos Gómez highlights that this first home meets the demanding standards of quality, sustainability and respect for the environment of the properties marketed by proptech. “In these types of villas located in spectacular settings, we are convinced that the co-ownership formula connects with the new mentality that is making its way, environmentally responsible and that advocates a sustainable use of assets.

 

In addition, we fulfill the dream of a segment of the population that, despite having significant savings to allocate to the purchase of a second vacation home, until now had no access to this type of aspirational housing due to its high price,” says Gómez.

This proptech company bases the success of its co-ownership proposal on three pillars: the quality and spectacular location of the houses, the design of an experience of maximum enjoyment without the usual concerns of conventional owners, together with maximum security and guarantees of the legal model. developed.

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With prop-tech technology, benefit from a fresh professional approach to sourcing real estate through fractional ownership

The proptech company in question has developed an independent quality certificate, which includes the inspection by its technicians of 150 critical points of the property and its surroundings, with the review of key factors in coastal areas, such as urban planning licenses, going through the technical conditions, of construction and current state. The vending agency assumes the bureaucratic procedures and the preparation of the house, including the decoration with the personal belongings of each co-owner kept in a warehouse. The goal is to make you feel at home and live an unforgettable and relaxing experience.

As for the legal model, designed by the Garrigues real estate area, it contemplates all legal aspects, to provide buyers with maximum transparency and security in transactions, both at the time of purchase and if they wish to get rid of their stake.

The management team is headed by the three founders, all entrepreneurs with a recognised track record of success with startups that have introduced innovation in very traditional sectors, such as city parking, finance or real estate.

After closing a financing round of 26 million euros, they have positioned themselves as the leader in the domestic Spanish market for the co-ownership model. Findhomeabroad is proud to partner with them to introduce fractional ownership to their client base

How does co-ownership work?

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