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How to own a 2.5 million euro villa in Formentera for 345,000

It is located very close to Cala Saona (Formentera) and valued at 2.

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How to own a 2.5 million euro villa in Formentera for 345,000

It is located very close to Cala Saona (Formentera) and valued at 2.5 million euros, but its new owner has only paid 345,000 euros. It is not a bargain or a super discount, it is a new way of buying luxury housing that starts in Spain with the first operation. Shared by eight owners and entitled to six weeks of use per year, two in high season, the house, located in Formentera, has been marketed by the proptechVivla, a company founded by Carlos Gómez, Carlos Floria and Iván Rodríguez, which has just brand new in Spain, with this first sale, the fractional purchase sector of exclusive second homes.

With a portfolio of homes in destinations in the Balearic Islands, the Costa del Sol, the Costa Blanca or the Costa Brava, the company closed a financing round of 26 million euros and plans to invest 100 million in the purchase of forty properties in the two coming years to market them in parts. "The idea is that more people can enjoy a luxury home, something that until now only seemed to be typical of high net worth individuals. It is about fulfilling the dream of a segment of the population that, despite having significant savings to spend on to the purchase of a second vacation residence, they do not have access to this type of aspirational housing due to its high price", confirms Gómez, CEO of Vivla, who is optimistic about the opportunities that open up with this new way of operating. "Spain is the first European market for second vacation homes and that is why we foresee high growth. We also detect a great demand from national clients, attracted by the possibility of enjoying a premium experience in exclusive locations for a price adjusted to the time of arrival. actual use and for the security of a solid legal model".

This has been developed by the Garrigues firm, something that gives peace of mind to buyers, but also to the founders of a company whose main competitor in Spain is Pacaso, an American company that is already operating in destinations such as the Costa del Sol. "It is a new category, with a complex regulatory framework, and that has meant that there are still few players in it, but it will grow a lot in the coming years because it is not just about having the possibility of buying a luxury home, it is turning it into your home, it's getting there on vacation and finding your furniture or your clothes, it's knowing that the house's maintenance or cleaning has been taken care of and that you haven't had to take care of anything...", lists Gómez, who highlights the advantages of the town of Formentera as an example of all this. "In this type of villas located in spectacular surroundings, we are convinced that the co-ownership formula connects with the new mentality that is making its way, environmentally responsible and that advocates a sustainable use of goods", explains the CEO of Vivla, which creates a limited company for each home in which it sells between five and eight shares. "It is not just enjoying the use, a model that has already existed in Spain for a long time; it is owning the home together with other people and having the right to use it just like the rest", concludes Gómez.

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