If you’ve ever wanted to own an overseas luxury home but wondered how you could afford it, a new company is helping Australians make that dream become a reality.
Kō, a co-ownership platform for luxury holiday property in the Asia-Pacific, has launched to the Australian market, offering buyers the opportunity to share ownership of luxury homes in a range of locations including Bali and Lombok, Indonesia, and Malaysia.
CEO and Co-Founder of Kō, Ryan Fritsch said co-ownership is not a new concept but isn’t common in Australia.
“Co-ownership makes the dream of owning a holiday home attainable,” Mr Fritsch said.
“With property prices at record highs and inflationary pressures, the co-ownership model provides a viable solution.
“People want access to holiday homes, but these are only used 10 to 20 per cent of the time – so why tie up all your money in one when you can share ownership?
“Kō also unlocks the potential to own multiple holiday homes for effectively the same cost.”
Founded in 2022, Kō makes owning a luxury holiday property accessible by sharing the financial costs with up to eight co-owners.
Using fractional ownership, owners are able to receive all the benefits of being luxury homeowners without the typical maintenance responsibilities.
Benefits include up to 42 days a year in their home per unit owned via a dynamic booking system with all maintenance managed by Kō.
Owners can also unlock equity by selling down shares within their home.
Kō currently has more than seven properties listed for co-ownership on its platform with prices ranging from AUD$150,000 to over AUD$1 million per unit.
Mr Fritsch said it is important for investors to understand that co-ownership is not timeshare.
“Kō buyers are equity owners in a property, it is a true co-ownership model rather than a time-share agreement,” he said.
“Co-owners are the equity owners of the properties, having the benefits of traditional homeownership such as how and when they sell their respective share.
“Kō is there to facilitate a seamless purchase, usage, and resale of each share.”
One of Kō’s most exclusive listings is Villa Jamadara, a five-bedroom villa in Bali’s highly-coveted Ungasan Clifftop Resort.
Priced at AUD$1.1 million per unit, it features a private infinity pool, generously appointed living spaces opening to manicured lawns, and a 24-hour private butler service.