Investors are increasingly considering the benefits of co-ownership, particularly when it comes to buying coastal 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 five times per year - a trend that they say fits the co-ownership model, whereby purchasers share access to a property.
Richardson and Wrench Noosa principal Jennifer Carr said there was still solid demand for Noosa holiday homes – particularly on the waterfront – 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.”