An ingenious proptech development in the luxury holiday home segment has seen co-ownership platform Ko bring to market a seamless buying, selling, and owning experience for Australians looking to enter the second-home market or diversify their luxury holiday home portfolio.
A recent wave of innovative technology solutions has revolutionised how property buyers and investors access services and information online. The real estate industry has quickly adopted these new technologies to create new markets, better serve targeted client segments and stay competitive.
An ingenious proptech development in the luxury holiday home segment has seen co-ownership platform Ko bring to market a seamless buying, selling, and owning experience for Australians looking to enter the second-home market or diversify their luxury holiday home portfolio.
Co-ownership has grown dramatically in the US and Europe over the last 2 years, with companies such as Pacaso disrupting their local marketing. However, Ko is the first online platform in the Asia-Pacific region that sells shares of luxury homes, dividing the price of each home into 8 equal shares and offering true ownership, not just the right to use the property.
Each dream home is managed and maintained by the Ko property team, while its innovative booking platform ensures each owner gets fair access to the property. Buyers can purchase up to 4 shares, with each share equalling up to 42 bookable days a year.
Ko homes is an Australian company co-founded by Ryan Fritsch, John Hanna and Ash Kirvan, a team with significant leadership, technology and venture experience. The company also partners with the luxury THIRDHOME homeowners network, allowing members to trade unused time for travel to different destinations worldwide.
“For those who dream of owning a luxury holiday home but think it may take a while to do so, we can bring that dream to life earlier through managed co-ownership,” says Ryan Fritsch, Co-founder of Ko.
“You can enjoy the benefits of a holiday home in one of our desirable locations around Australia and Asia at a fraction of the overall cost. It’s a luxury holiday without the hassle, and Ko ensures each owner gets their fair share of access.”
Available properties are mainly located within driving distance of capital cities and offer up a spectrum of holiday hotspots, from coastal to rural destinations. Each home is professionally cleaned and maintained after each stay.
Unlike with timeshare properties, co-owners own the property and are treated as such. Every owner has the right to decide the property’s future, as well as the right to sell their share or shares at any time at a price they choose. Plans for the home are agreed to by consensus with each share equaling one vote.
“We think anyone considering the luxury holiday home market will quickly discover the benefits of our fractional ownership model, which comes without any friction. We handle any of the hassles so you can just sit back and enjoy your dream holiday home,” adds Fritsch.
Ko is the first company in the Asia-Pacific region to offer this service. It currently has properties available in Australia, Indonesia, Japan and Malaysia with properties to come in New Zealand and Thailand soon.
You can head over to ko.homes to view available properties and learn more about how luxury holiday home co-ownership works or email KO via the below contact form to learn more.
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