The affordable luxury real estate market for co-ownership is becoming a reality in Spain. According to the Idealista real estate portal, the Spanish proptech company Vivla has closed its first sale of co-owned housing on the island of Formentera.
Vivla representatives report: "We are talking about a villa in Cala Saona worth €2.5 million. The property was divided into 8 separate parts, each worth €345,000, including taxes. Co-owners are guaranteed exclusive use of the property for at least 6 weeks a year, two of which fall during the holiday season."
The CEO of Vivla, Carlos Gomez, predicts that in the coming years, we will see an increase in such high-end real estate deals in Spain. He also notes that Ibiza will be one of the most popular and interesting destinations for such purchases.
Responding to the suddenly high demand for such properties, Vivla focused its initial efforts on the Balearic Islands market, in particular in Ibiza, Menorca, and Formentera.
The property that the company sold on Formentera is located near Cala Saona, it has a plot of 2,000 square meters, 3 bedrooms, 3 bathrooms, a kitchen, and a living room. The portal points out: "The decor corresponds to the aesthetics of the wabi-sabi style, based on natural elements and the beauty of their imperfections."
This type of transactions is focused on buyers who have enough savings to buy real estate, but not enough to purchase premium properties. The focus on the buyer is also reflected in the fact that Vivla takes care of almost all the bureaucratic procedures and preparation of the house for sale and use, including, interior decoration. The belongings of each future owner are stored in a warehouse for transportation so that a person can move into the house as soon as possible.
In addition, Idealista emphasizes: "The key figures in Vivla's activities are three people: Ivan Rodriguez, Carlos Floria and Carlos Gomez. They are entrepreneurs with great experience of successful work with many startups. These startups have introduced innovations into traditional sectors of the economy, such as urban parking (infrastructure), finance, and real estate. Having invested over €26 million in real estate for joint ownership, Vivla confidently positions itself as the leader of the local market for such solutions."