Co-ownership in Europe vs the USA

At a glance

Share sizes and nights a year

The eighth is the standard unit in both markets. It is a simple idea: eight owners, one home, and each owner has the house to themselves for roughly an eighth of the year. Today 99% of the European homes on the site and 96% of the American ones are sold in eighths.

The other share sizes listed today are 1/13 in Europe and 1/4 in the US. A Paris apartment, for example, is usually shared by eight to thirteen owners, so a 1/13 share gives about four weeks a year. In both markets you can usually buy more than one eighth, up to half of a home, and your time grows in step with your share.

In Europe, a 1/8 share comes with a set number of nights. Across the European homes where the managing company publishes the figure, that is 42 to 45 nights a year: about six weeks. Some homes add short-notice stays on top, booked a few days or weeks ahead, which do not count against your allowance.

In the US, most homes do not count nights at all. A 1/8 share gives you an eighth of the calendar, managed through an app: you can hold a set number of advance stays at once, one holiday stay at a time, and as many short-notice stays as the calendar allows. On the managing company's own figures, a 1/8 owner typically stays six or seven times a year for about six nights each, which is roughly six and a half weeks. A few American homes work the European way instead, with fixed periods attached to each share and shown before you buy.

What a share costs

The median share in Europe costs €195,000, across the 173 European homes listed today that are priced in euros. The median share in the United States costs $721,000, across 109 homes priced in dollars. Both are medians of today's asking prices, rounded to the nearest thousand, and they move as homes are listed and sold.

At today's exchange rate the American median is about €643,000, or roughly 3.3 times the European one.

A share is real property, so its value follows the home and its market: a share can appreciate in value, and when you sell, the value goes with it. Shares are priced per home, and two shares in the same home can differ when one carries better-placed dates. For the full spread by country, region and type of home, see the Co-Ownership Price Index, which is built from the same live listings.

A note on the method: a market here is a region and a currency. Of the European homes listed, 8 are quoted in dollars or pounds rather than euros, and they are left out of the European median rather than blended into it, exactly as on the price index.

How scheduling works

European homes lean towards a structured year. The managing company runs a calendar or booking app with rules that keep it fair. Some homes split each owner's six weeks across the seasons, for example one week in prime season, one in high season, two in mid season and two in low season. Others combine fixed weeks, which come back at the same time every year, with floating weeks that rotate so everyone gets their turn at the best dates. Others again let you book through an app within limits on how long a single stay can be. Peak weeks rotate between owners from year to year, and owners can swap weeks with each other.

American homes lean towards a rolling allowance. You book stays in an app well ahead or at short notice, and the system keeps the calendar fair between the eight owners. Holiday dates are handled separately, with one holiday stay held at a time per share, so the most popular dates go round. Owners can also swap stays, either with co-owners of their own home or with owners of other homes run by the same managing company.

Both systems give you the whole home for every stay. Nobody else is in the house while you are there, and the house is cleaned and checked between owners.

Selling your share

In both markets the share is yours, so selling it works like selling a home rather than offloading a timeshare. You set the asking price. The managing company helps market the share, to buyers already waiting for a share in that destination and then on the open market; you can usually use your own agent too. Selling costs look like those of an ordinary property sale.

Some homes ask for a minimum period of ownership before a resale while the managing company is still selling the home's first shares. The team that manages each home sets out its resale rules in writing before you buy. You can also leave your share to your family.

Who can buy

The homes listed here are open to buyers from anywhere. Americans buy in Europe and Europeans buy in the US. In France, for example, the law places no restrictions on foreigners buying property; our guide to owning a Paris apartment as an American walks through the French side step by step, and buying a home share in Europe as an American covers the wider picture.

On both sides the managing company checks new owners before they join a home, so the other owners can be sure who they share with. The legal set-up of each home is explained by the team that manages it, and it is worth having your own adviser read the documents.

What's included

The everyday experience is very similar on both sides of the Atlantic, and it is the main reason people choose co-ownership over a rental:

• A finished home. Homes are furnished by designers and fully equipped, down to the kitchen, so you arrive with a suitcase and nothing else.
• Management. A local team runs the house: maintenance, gardens and pools, repairs and the coordination between owners.
• Ready for every stay. The home is cleaned and checked between owners. In the US a detailed inspection is done before every arrival; in Europe many homes have their own dedicated home manager.
• Your things stay there. Many homes give each owner lockable storage, so your clothes and sports kit wait for you.
• More than one home. Several managing companies let owners swap stays into their other homes, so one share can open doors in other destinations.

Europe or the US: which suits you?

Choose Europe if you want a city apartment in Paris, a villa in Mallorca or on the Costa del Sol, a farmhouse in Italy or a chalet in the Alps, and you like knowing your weeks a year or more ahead. The typical share costs less, and a 1/8 share gives a set six weeks or so. Start with the Spain, France and Italy guides, or the Paris and Mallorca pages.

Choose the US if you want a large family house in the desert, the wine country, the mountains or on the coast, within reach for long weekends, and you prefer to book as you go. Start with the USA guide, or California, Florida and Colorado.

Not sure co-owning beats renting for the way you travel? The holiday home cost calculator compares renting, buying outright and co-owning for your own nights a year.

Common questions

Is co-ownership in Europe the same as in the US?

The idea is the same: a small group of owners, usually eight, each owns a real share of one home and has it to themselves for part of the year. The differences are in price and in booking. European homes tend to give a set number of nights through a calendar with seasons; American homes tend to give an eighth of the calendar through a booking app.

How much does a share cost in Europe compared with the US?

Across the homes listed today, the median share costs €195,000 in Europe and $721,000 in the United States. At today's exchange rate the American median is roughly 3.3 times the European one. The Co-Ownership Price Index breaks this down by country and region.

How many nights a year do I get with a 1/8 share?

About six weeks in both markets. In Europe a 1/8 share gives 42 to 45 nights a year, depending on the home. In the US most homes give you an eighth of the calendar to book through an app rather than a fixed number of nights, plus short-notice stays.

Is co-ownership a timeshare?

No. With a timeshare you buy the right to use a unit for a period. With co-ownership you own a real share of one specific home, alongside a small group of other owners, and that share can be sold or left to your family like any property.

Can Americans co-own a home in Europe?

Yes. The homes listed here are open to buyers from anywhere, and in France, for example, the law places no restrictions on foreigners buying property. The managing company checks new owners before they join a home.

Can I sell my share later?

Yes. You set the asking price, and the managing company helps market the share to waiting buyers and then on the open market. Some homes ask for a minimum period of ownership while their first shares are still being sold; the team that manages each home sets out its resale rules in writing before you buy.