Buying a second home in a popular destination has long been a costly proposition—requiring substantial capital, ongoing maintenance and management expenses, and often delivering limited actual usage throughout the year. As a result, interest has shifted toward alternative models like shared ownership.
What Is Shared Ownership?
Known internationally as co-ownership or fractional ownership, this model offers a different approach to acquiring a vacation property. Rather than one person bearing the full cost of an asset used for just a few weeks annually, multiple co-owners jointly acquire the property—splitting both costs and usage time.
The logic is straightforward, as described by global firms operating in this space: Why shoulder 100% of the expense for a property you use only a fraction of the year?
How It Works in Practice
In Greece, companies like Owners—which operates specifically in the local market—structure shared ownership by dividing a property into defined equity shares. Buyers purchase a percentage stake and receive corresponding rights to use the property.
The real estate itself is held by a Special Purpose Vehicle (SPV), a dedicated company created solely for that asset. Investors acquire shares in the SPV, thereby gaining proportional ownership of the underlying property.
According to Owners’ model:
- Each property can have up to six co-owners;
- Shares are sold in fractions of one-sixth;
- An individual investor may hold up to 50% of total ownership;
- Each share entitles the owner to up to 56 nights of annual usage;
- Booking is managed via a dedicated app;
- Owners may also rent out their unused time through the platform.
Unlike traditional timeshare arrangements—which grant only usage rights for specific weeks—shared ownership confers actual legal title to a portion of a tangible asset.
A Growing Market, Not Just a Concept
Shared ownership is no longer theoretical. It’s a rapidly expanding sector across Europe and beyond. While models vary in terms of the number of co-owners, management structure, usage flexibility, and resale options, they all rest on the same foundational principle: dividing ownership of a high-value property into manageable, tradable shares.
What European Research Shows
Rising industry participation reflects growing buyer interest. The European Housing Trend Report 2023 by RE/MAX highlights notably strong demand for shared residential ownership across the continent.