Move over Uber and Airbnb, the latest sharing economy to boom is the holiday home. It’s no wonder why… Who doesn’t want a multimillion-dollar, luxury holiday home for 1/8^th the cost? Here’s how.

Queenstown, New Zealand – The appeal of owning a holiday home is undeniable. It’s exciting to imagine having a special place in another part of the country or world where you can create amazing memories with family and friends.

However, the cost can be difficult to justify in today’s market, especially if the home is only used for a few weeks each year. As a result, a global trend is seeing financially astute and environmentally savvy families drastically reduce the cost, responsibility, and environmental footprint of second home ownership through co-ownership.

In fact, co-ownership has become so popular that an American provider has recently received $1.5B valuation since its 2020 inception and more than 2 million USA holiday homes are co-owned.

Now, New Zealand/Australian co-ownership experts John and Sharon Russell have launched their latest business venture, Second Home, to help Kiwi and Australian families safely and reliably establish affordable second home co-ownership for themselves at 1/8 the cost.

The Queenstown visionaries possess 24 years’ experience with co-ownership having introduced syndicated boat ownership to the Australian and New Zealand markets in 1999.

“We have designed a practical and affordable way to fulfil the dream of owning a holiday home and creating those amazing memories of family holidays that become such a profound part of our lives,” said John and Sharon.

Second Home brings eight like-minded individuals together to own the title to their dream holiday home, enjoy it exclusively for six or more weeks each year and benefit from any market appreciation, whilst paying only a fraction of the cost.

Co-ownership significantly reduces the upfront and ongoing costs associated with owning a property and Second Home ensures the property is looked after and managed.

“We are excited to co-own a stunning property in Queenstown valued at approximately eight times what I have invested, with like-minded families. It’s affordable and flexible, allowing us to spend quality time together in one of the most beautiful parts of the world,” said Peter Hamilton, Second Home owner.

“Homes are luxuriously furnished, and a personal concierge is on hand to ensure that all is set up for your arrival.  On departure, just lock up and leave and Second Home takes care of the rest.”

Second Home property locations include New Zealand (Queenstown Central, Jack’s Point in Queenstown, and Wanaka) and Italy (Mercatello sul Metauro and Venice) with the Gold Coast on the horizon.

From an investment of only NZD$316,000, suitable buyers can co-own one of these multimillion-dollar homes for themselves.

“So far, the interest and uptake have surpassed our expectations. Our first Queenstown property was so popular and went so quickly, that we secured two more in Queenstown and another in Wanaka.

“We only just started marketing Jack’s Point last week and two of eight co-owners have already purchased.”

“In uncertain financial times we have historically seen tremendous interest in the co-ownership model for both boats and holiday properties. During 2007 to 2009 our business Riviera Syndication experienced an increase in sales due to owners still wanting the leisure experience, but also wanting to be cautious with their investments.”

Co-ownership is also sustainable. “Instead of holiday homes sitting empty for a large portion of the year, we are seeing families embrace co-ownership and reduce their carbon footprint, while also boosting the local economy with more frequent visitors.

“It’s the perfect way to holiday and invest in real estate at the same time.”

For more information and full listing details, visit www.secondhome.co.nz or contact John Russell at +64 21 854 597  or jrussell@secondhome.co.nz  or  Sharon Russell at  +64 21 863 759 or srussell@secondhome.co.nz.

About Second Home

Second Home is founded by experienced co-ownership pioneers and boutique lifestyle experts John and Sharon Russell, who have over 24 years of experience in co-ownership. They previously founded and operated Boatshare Australia in 1999 and Riviera Syndication luxury yacht co-ownership in Australia from 2007. Their new venture, Second Home, was launched in February 2023 in Queenstown, New Zealand with the aim of making second home ownership more accessible and sustainable through their holiday home co-ownership model.

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Media Contacts: 

John Russell +64 21 854 597, jrussell@secondhome.co.nz

Sharon Russell +64 21 863 759 or srussell@secondhome.co.nz