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Co-ownership on the agenda

Staff Reporter 3 minute read

Staff Reporter

Homebuyers are increasingly considering the benefits of co-ownership, particularly when buying luxury beach 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 5 times per year - a trend that fits the co-ownership model in which purchasers share access to a property.

Richardson and Wrench Noosa principal Jennifer Carr said there is still solid demand for Noosa holiday homes – particularly on the waterfront – but the market is clearly evolving with astute buyers considering co-ownership as a viable alternative to outright ownership.

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“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.”

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