The company offers co-ownership of holiday homes, with equity starting at 50,000 euros. The founder sees great opportunities in Scandinavia.

The property sector is in a deep crisis, but despite rising interest rates and construction costs, demand for luxury holiday homes remains high. The Berlin start-up MYNE Homes, which operates a platform for shared ownership, is expanding into Sweden. Initially, four properties are to be offered in the Stockholm archipelago and in popular ski resorts in the north of the country.

Founded in 2021, the company sells shares in holiday properties, combined with usage rights. The principle: eight owner parties jointly acquire a property and divide the period of use among themselves. The shares can be acquired from an equity of 50,000 euros.

MYNE's Co-Ownership model has nothing to do with "timeshare", where only rights to use someone else's property are sold for a certain period of time. In contrast, Myne Homes allows investors to invest in a specific property and decide what happens to the property.

Founder and Managing Director Nikolaus Thomale sees an opportunity for his business model in the current difficult market situation: "Under the current economic conditions with high interest rates, inflation and significantly increased property maintenance costs, holiday properties in full ownership simply no longer pay off. Few people are prepared to invest a lot of time and effort in maintenance and management, especially if they pay the full price but only use the property for a fraction of the year."

This makes the co-ownership model more interesting. According to Thomale, MYNE currently offers properties in Germany, Austria, Italy, Spain, Portugal and France. As the properties are sold gradually and MYNE also generates revenue through utilisation fees, the company is less dependent on outside capital.

By expanding its offering in Sweden, MYNE Homes aims to tap into a market with potential purchasing power. The Scandinavian country is a popular holiday destination for many Germans, emphasises the founder. Around 10,000 Germans already own a holiday property in Sweden. The Swede Ola Mattisson has been appointed Country Manager for business development in the country.