Home sharing takes off in Mallorca as the cheap alternative to owning a property

Massive increase in multi owned properties

Jason Moore30/09/2022 07:50
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Dreamed about owning a home on Mallorca but it is a bit out of your price range....well there is a solution. According to the property portal Idealist there has been a massive growth on the island in properties which have a number of owners. It is an extension of the old timeshare system but it has taken the U.S. by storm and now Mallorca is following. Sone real estate companies on the island are already offering this form of ownership.

A form of partnership agreement is formed to purchase the property with various shareholders who decide when they want to use the property and for the length of time. It is better than a normal rental because the property is yours or at least you are a shareholder.

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Owning a property on Mallorca is the dream of millions of people but is it one of the most expensive places to buy in Spain and prices keep rising. Infact, Mallorca has some of the most expensive properties in the country.

Real estate experts suggest that this sort of property ownership will continue to rise especially now that there has been an influx of U.S. tourists following the introduction of the new summer direct flights.

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