Fractional ownership allows owners of second homes to sell a share of their second home and keep another share to continue enjoying the home
Enjoying a second residence on the beach or in the mountains has always been an aspiration in Spain. In fact, Spain is one of the countries in Europe with the highest percentage of families that own a house to spend their holidays. No less than 14.6% of Spanish families enjoy a second residence (Source: Caixabank 2020).
However, since the years of the financial crisis of 2008, access to a second residence has been slowing down and delaying the age at which a second home is acquired.
The reasons are varied; of course the acquisition cost is one of those reasons, but not the only one. Less than 25% of the owners spend more than 1 month in their second residence, so it is perceived that the enjoyment of the house is scarce compared to the costs and time that must be dedicated to maintenance.
If you add to these factors changes in current lifestyles, where people seek greater dynamism and flexibility, you will have the combination that is at the origin of this delay in the age of access to a vacation home.
Despite this, the desire to have a second home remains intact.
Many Spaniards who already have a second home live with the contradiction of wanting to enjoy their second home and at the same time have greater freedom to travel to other places and reduce the costs associated with home maintenance. On other occasions, the house is owned by several siblings or relatives; where not everyone has the same opinion about its use, about whether to keep the house or put it up for sale.
Abriqot, with its fractional ownership proposal, provides the solution to reconcile these conflicting interests by facilitating the sale of part of the property at the same time that the owner of the house keeps a part of it for his use and enjoyment from 6 to 24 weeks a year. Abriqot also performs all house maintenance so that each of the co-owners can focus their time on enjoyment of the house during their stays.
Abriqot's fractional ownership scheme follows one of the most successful trends in recent years in the real estate sector; that connects directly with the so-called digital nomads and in general with people who want to have a more dynamic lifestyle, with fewer ties, without having to give up enjoying their own second home.
More information about Abriqot and fractional ownership at info@abriqot.com