tv reportage – Galileo

'Sharing instead of buying' - Galileo

Whether it’s luxurious holiday homes, premium cars, or trendy fashion, the concept of co-ownership opens up new opportunities. For the Brückner family, the dream of owning a holiday home in Mallorca became a reality and a smart investment at the same time.

‘It couldn't get any better than this, just have fun, enjoy your holiday and also see the whole thing as an investment,’ says Mr Brückner

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The sharing concept is not only popular and established for holiday homes - it is also popular for cars and fashion.

‘The fact that you can drive such a great car, co-own it, but share all the costs.’ - the dream of a chic sports car came true for a co-owner of a Porsche.

‘I can reinvent myself, so to speak, without having to buy anything new,’ which means new trendy items can be added to the wardrobe every month.

The principle of co-ownership is also already established for yachts and private aeroplanes. Here, too, it has been shown that the high costs of purchase and maintenance are out of all proportion to typical use, making co-ownership a sensible alternative. In the USA, the principle of managed co-ownership has been established for high-quality holiday homes for more than 30 years.

All thanks to one concept - sharing instead of buying

The Brückner family dreamt of owning their own holiday home on the beach in Mallorca, with their own pool, modern kitchen and more. However, buying such a property abroad would not have been an option for the family of four from near Stuttgart.

Because you might not use the property for 300 days out of 365, and then you have vacancies, which makes no sense at all, especially not for such a beautiful property on Mallorca,’ says Mr Brückner.

Statistically speaking, most holiday properties are only used by the owners themselves for 6 to 10 weeks. Nevertheless, sole owners have to bear the entire purchase price and ongoing maintenance costs alone.

This changes with MYNE - holiday homes in co-ownership. Two to eight co-owners with complementary usage wishes jointly own their dream holiday home and share the usage, costs and rental income. They acquire real property ownership in a share deal, secured by the commercial register and land register.

1.5 years ago, the family came across the possibility of sharing holiday properties via MYNE. Since then, they have already spent 4 holidays in the shared holiday home.

‘In principle, we own the entire house for ⅛. This means that seven other co-owners have also bought this ⅛, and the whole thing is coordinated so that everyone uses their share,’ says Mr Brückner

The Brückner family can use the holiday home according to their share for ⅛ of the year, which equates to 44 days a year.

Galileo

The tv reportage

But what happens if all the co-owners want to go to the holiday home at the same time?

Reservations at short notice are also possible if no other co-owner books the times in the app earlier. This usually works thanks to a sophisticated system. For example, families with and without schoolchildren from different federal states are preferably thrown together so that not every owner wants to holiday at the same time.

MYNE places great importance on ensuring that all co-owners can use their property equally and in the best possible way according to their own preferences. This is achieved by the following three approaches:

1) Properties for year-round use

2) Co-owners with complementary utilisation wishes

3) The MYNE reservation system - simple & fair

‘Mallorca has a very long season, you can visit in spring or autumn if you want to go hiking or cycling, and so far, it's actually been the case that you get the period you want quite well,’ says Ms Brückner

5-star service & high-quality amenities for all year-round use

MYNE offers holiday properties in sought-after destinations in eight countries. The properties are fully equipped and combine high-quality materials, practical functionality and stylish design. From crockery and kitchen utensils to blankets and towels, everything is provided so that everything is ready on arrival.

‘Anyone who goes on holiday with children knows what you have to lug around. Here, you arrive and are on holiday from day one,’ says Mr Brückner

Each property also has individual owner's lockers, allowing each co-owner to store their personal belongings safely. This makes it easy to travel with light luggage.

More about MYNE Co-Ownership

All holiday homes are designed for year-round use. The villa in Mallorca, for example, has its own gym and sauna for the cooler months of the year.

Mr Brückner emphasises: ‘If you had to buy all these amenities separately, it would be quite expensive in the long run. Through co-ownership, you split the costs again by ⅛.’

Friends and family can also enjoy this service, even if the Brückner family is not on-site. Guests are conveniently registered via the app so that the owner service can prepare the property accordingly, including laundry packages and other amenities.

‘If we don't manage to use the property for 44 days a year, we can pass on the days,’ says Mrs Brückner

Letting to third parties is also possible, provided a corresponding letting licence is available. MYNE's owner service then handles the professional management. The rental income is paid out to the co-owners at the end of the year.

Arrive and enjoy

Upon arriving at the villa in Mallorca, the Brückner family puts away the freshly delivered groceries - another part of the all-inclusive, carefree service. This way, the holiday can begin without the stress of shopping. In addition to the shopping service, other concierge services can also be booked.

For other matters that require consultation with the 5-7 other co-owners, MYNE ensures straightforward communication and coordination between the owners.

Attractive cost/benefit ratio

In addition to the one-off payment for the purchase of the property, which is based on the number of shares, the monthly costs for non-consumption-related expenses such as operating and ancillary costs and the maintenance reserve are divided among the co-owners. For the villa in Mallorca,78 these costs amount to around €250 per family - an eighth of the total costs per month compared to the full price of sole ownership.

Emotional and financial return

The property is also an investment. What counts for MYNE is the combination of appreciation potential and emotional return. By selecting the right properties in top locations and a structured purchase, development and management process, we ensure that the properties can develop in value in the best possible way.

After just one year, you can resell your share - either on your own or through the company. The Brückner family would already realise an increase in value of almost 10% after 1.5 years following a resale.

Swap and enjoy in many ways

A recently launched exchange platform enables holiday homes to be swapped. Nearly 500 co-owners can exchange individual days in their properties for holidays in other locations. For example, the Brückner family could also enjoy a holiday in a property in Sweden.

More about MYNE Co-Ownership

The ARD format ‘plusminus’ visited our co-owners in their holiday homes and asked them about the topic of ‘co-ownership’. You can find out more about their experiences and additional expert opinions in the ARD report.

Watch here

The ntv ‘Startup Magazin’ accompanied MYNE as part of its report on ‘Co-Ownership - buying holiday homes on a pro rata basis’ and looked at the concept in more detail. You can find out more about the experience in the ntv report.

Watch here

"MYNE founder Nikolaus Thomale talks about how digitalization and technology are changing the holiday home market."

Listen now

"Prominent scene heads are backing MYNE Homes - a Berlin start-up that enables investors to buy part of a holiday home for as little as 50,000 euros."

Listen now
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