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

The “proptech” Vivla concludes the first fractional sale of luxury second homes on the island.

It is located very close to Cala Saona (Formentera) and valued at 2.5 million euros, but its new owner only paid 345,000 euros. It’s not a great deal or a super discount, it’s a new way to buy luxury house which begins in Spain with the first operation. Shared by eight owners and entitled to six weeks of use per year, including two in high season, the house, located in Formentera, was marketed by the proptechVivla, a company founded by Carlos Gmez, Carlos Floria and Ivn Rodrguezwhich has just opened in Spain, with this first sale, the fractional purchase sector of exclusive second homes.

A typical Balearic villa

Valued at 2.5 million euros, this villa located in Cala Saona (Formentera) is sold in eight shares at a price of 345,000 euros each. The co-owners, constituted as a public limited company, are assured of its use for a minimum of six weeks per year. It has a plot of two thousand square meters and has three bedrooms, three bathrooms and a kitchen connected to the dining room. With a typical Balearic design and architecture, it is surrounded by forest and has large outdoor areas, with a “solarium”, porch and swimming pool. The decoration follows the “wabi-sabi” aesthetic, based on natural elements and their imperfections.

With a portfolio of homes in destinations of Balearic Islands, Costa del Sol, Costa Blanca or Costa Brava, the company has completed a funding round of 26 million euros and plans to invest 100 million in the purchase of forty properties in the next two years to market them in parts. “The idea is that more people can enjoy a luxury home, which until now only seemed to be typical of wealthy individuals. It’s about realizing the dream of a segment of the population who, despite significant savings to be spent on the purchase of a second vacation home, do not have access to this type of aspirational housing due to its high price”, confirms Gmez, CEO of Vivla, who is optimistic about the opportunities that open up with this new mode of operation. “Spain is the first European market for second holiday homes and we therefore expect strong growth. In addition, we have detected a strong demand from national customers, attracted by the possibility of enjoying a premium experience in exclusive locations for a price adjusted to the real time of use and by the security of a legal model. solid”.

an inaccessible ibiza

Between one and four million euros and in Formentera, Marbella, Sotogrande or Baqueira Beret. Vivla plans to invest a hundred million euros and thus complete a portfolio of up to forty homes to resell them in parts and offer the possibility of enjoying a second home in exclusive destinations and until then inaccessible to a significant portion of the population. In the image, one of those already on offer in Ibiza, an eighth of which can be purchased

This was developed by the firm Garrigues, which reassures buyers, but also the founders of a company whose the main competitor in Spain is Pacaso, an American company that already operates in destinations such as the Costa del Sol. “It’s a new category, with a complex regulatory framework, and that means there are still few players, but it’s going to grow a lot in the coming years because it’s not It just involves having the possibility of buying a luxury house is to make it your home, it is to come there on vacation and find your furniture or your clothes, it is to know that the maintenance of the house or its cleaning are solved and you don’t care about it you haven’t had to take care of anything…”, lists Gmez, who highlights the advantages of the city of Formentera as an example of all this. “In this type of villa located in a spectacular environment, we are convinced that the formula of co-ownership joins the new mentality which is gaining ground, eco-responsible and which advocates a sustainable use of assets“, explains the CEO of Vivla, which creates a public limited company for each house in which it sells between five and eight shares. “It is not only to profit from the use, a model that has already existed in Spain for a long time; it is to be owner of the house with other people and have the right to use it like othersGomez concludes.

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