Seeking to re-invent access to second houses in the UK and continental Europe, Altacasa has actually raised EUR2 million in a pre-seed funding round. Sitting at the crossway of property, finance, and tech, the start-up is aiming to democratise the process of owning a 2nd house without the inconvenience of high expenses. The pre-seed funding will be utilized to develop the platform, source high-quality residential or commercial properties, and grow the teams in London and Paris.
Taking a look at the numbers, it’s simple to see why founder and serial entrepreneur Romain Saint Guilhem is wanting to fill the void. During 2020, the need for second homes skyrocketed by 58.8%, with applications for 2nd home mortgages peaking in September, up 118% year over year. Do I even require to offer the factor(s) why? Great. Me neither.
Altacasa is taking advantage of this desire, however leveraging the power of the crowd. And by the crowd, I suggest 1/6th. The platform allows potential second-home purchasers the capability to acquire a sixth (or more) of a house and inhabit it for at least 2 months of the year, dependent upon the size of the share: 6 × 2 = 12. Months. Ta-da!
How is this various from a conventional timeshare? Why I’m grateful you asked. Instead of the timeshare as we know it, Altacasa’s service gives the owner real ownership in the residential or commercial property instead of access to the residential or commercial property for a defined time period. Significance, it’s an actual property ownership strategy, with all the ups (and downs) consisting of in the event of a sale, and the worth of the home has increased (or reduced) owners can profit (or not).
As this is a shared ownership job, Altacasa is developing an algorithm that will match owners based on scenarios and citizenships. The business provides an example: « for instance, a retired couple, with a family with school-aged children, and single specialists– so that these different owners will be unlikely to desire access to the residential or commercial property at the same time. »
« We want to make it much easier, more affordable, and smarter for people to take pleasure in all the advantages of a 2nd home, without the inconvenience of upkeep or needing to deal with inflexible and restrictive timeshares which diminish in worth over time, » comments Saint Guilhem. « Our exclusive Altacasa Time algorithm looks after all the scheduling, whilst our management platform even more enhances the experience by managing whatever else so you can enjoy your 2nd house to the fullest. »
Altacasa will begin operations concentrating on Cornwall in the UK, Provence and the Alps in France, and Costa Del Sol in Spain, and is intending on dealing with top local real estate agents including Savills, Barnes International, and Emile Garcin.
The EUR2 million in pre-seed financing shows up through an undisclosed group of angel financiers.
Toute l’actualité en temps réel, est sur L’Entrepreneur
