Homebuyers are increasingly considering the benefits of co-ownership, particularly when buying luxury beach properties.
New research from Richardson and Wrench found that owners of luxury holiday homes in Noosa stayed, on average, for 9.5 nights up to 5 times per year - a trend that fits the co-ownership model in which purchasers share access to a property.
Richardson and Wrench Noosa principal Jennifer Carr said there is still solid demand for Noosa holiday homes – particularly on the waterfront – but the market is clearly evolving with astute buyers considering co-ownership as a viable alternative to outright ownership.
“The idea of co-ownership is attracting attention from a range of buyers, and as a result, one of Noosa’s newest prestige developments - Sandpiper - has adopted this innovative scheme,” she said.
“Co-ownership helps buyers match their level of investment to their level of personal usage - it gives them 100 per cent of the luxury lifestyle, for only a portion of the cost.”