- Ko has announced a strategic partnership with buyers agency Propertybuyer
- Properties in NSW include an $9.75 million asset in Byron Bay
- Comes as the platform recently launched in Japan
The first Australian co-ownership platform for luxury holiday property, Ko, has announced a strategic partnership with leading independent buyers’ agency Propertybuyer, as it offers luxury properties across New South Wales.
This move seeks to elevate the co-ownership model to the vacation property market.
The news comes as Ko recently launched in Japan.
Buyers can purchase a one-eighth stake in a range of exotic international and domestic holiday homes. This makes prestige property more accessible.
In New South Wales, buyers have the opportunity to acquire a stake in a range of prestige properties in locations including Byron Bay and other lifestyle destinations from the Northern Beaches to the Southern Highlands.
Ryan Fritsch, CEO and Co-Founder of Ko, said this delivers buyers a fully-managed luxury holiday home experience without a hefty price tag.
“The partnership with Propertybuyer is very exciting and is helping to fast-track our expansion within Australia. We expect to roll out our first 20 properties in other holiday hotspots around Australia over the next few months and anticipate significant uplift across the summer holidays, as people traditionally focus more on travel and lifestyle during that period,” said Ryan Fritsch, CEO and Co-Founder of Ko.
“Propertybuyer and Ko are aligned with the goal of removing the hassle and stress out of purchasing property, and our partnership will provide an exciting opportunity to unlock holiday home ownership for many Australians.”
Ryan Fritsch, CEO and Co-Founder of Ko
One of the properties listed is a two-level tropical residence at 27 Shirley Street in Byron Bay. Metres from Main Beach, it is currently listed for $1,218,750 per one-eighth unit. This dwelling consists of five bedrooms, three bathrooms and a separate studio and parking for six vehicles.
Outdoor elements include a Himalayan sandstone courtyard with water features and a 12.5-metre swimming pool.
Propertybuyer CEO and Founder Rich Harvey, who has over 20 years of experience in the luxury property market, said the team is delighted to partner with Ko.
“We’ve been given the exclusive mandate to source luxury holiday homes with ‘wow factor’ in the $4 million to $14 million range and are targeting properties with stunning views, beachfront locations, country retreats, resort-style inclusions and plenty of space to relax,” he said.
Mr Harvey said his team is targeting top holiday destination locations right across Australia such as Noosa, Sunshine Coast, Gold Coast, Byron Bay, Port Stephens, Central Coast, Sydney’s Eastern Beaches, South Coast, Mornington Peninsula, Margaret River and Dunsborough.
Mr Fritsch noted that with holiday homes only used up to 20% of the time, the co-ownership model is a logical way to retain ownership while unlocking equity to use for other purposes.
“Co-ownership makes the dream of owning a holiday home attainable. People want access to holiday homes, but these are only used 10% to 20% of the time – so why tie up all your money in one when you can share ownership?”
Rich Harvey, Propertybuyer CEO and Founder
“Ko also unlocks the potential to own multiple holiday homes for effectively the same cost,” he said.
While shared ownership of luxury vacation homes is new to the Australian market, it is gaining popularity in Europe and North America.
Through this fractional ownership model, owners can enjoy the benefits of being luxury property owners without typical maintenance responsibilities. Up to 42 days per year can be spent in the home per unit via a dynamic booking system. Ko manages all maintenance.
Also, Ko unit owners have access to THIRDHOME which offers a global network of properties that members can exchange for a period of time.
