🏡Slice of a Villa, Please - The Rise of Fractional Living💸

Welcome back to PropTech Pool 🌊

This week’s edition is all about rethinking ownership, space, and access.

🏡 Pacaso is slicing up second homes and reshaping luxury real estate - with $1B in sales and plenty of pushback from the neighbors.

🌊 Inland surfing is booming, thanks to engineered wave tech that brings perfect barrels to places like Bristol and Dubai. No sea? No problem.

🏗 And in Chile, a radical idea: build half a house now, and let families finish the rest. Cheaper, smarter, more human.

Let’s dive in. 🏄‍♀️

 🏡 Who Needs the Whole Villa Anyway!?

Second home ownership is being reinvented, and Pacaso is driving the debate.

Founded by ex-Zillow leaders, Pacaso turns luxury villas into co-owned assets: up to eight owners share a home via an LLC, each getting 44+ days a year. Scheduling, maintenance, and concierge services are all handled through an app.

Pacaso just passed $1 billion in sales across 40 global markets. Nearly 75% of buyers are under 55, reflecting a new wave of tech savvy nomads who want ownership without the hassle, a trend detailed in this Wired article on fractional home ownership startups.

But not everyone’s onboard.
In Napa Valley and Lake Tahoe, Pacaso has faced lawsuits and protests, with locals accusing it of dodging rental laws and disrupting communities. Some towns have banned the model outright, as reported in this Patch article on the St. Helena settlement. For more on the backlash, see this Vice article on Pacaso’s neighbor controversies.

Meanwhile, data from the Bay Area Council Economic Institute shows Pacaso homes are occupied 89% of the year, more than double traditional second homes meaning more local spending and fewer empty houses.

🎟️ Join us at CREtech London!

🤖 No Sea, No Problem! The Rise of Engineered Waves

Surfing is no longer just for the sea. Thanks to cutting-edge technology, inland surfing is making waves, literally! Bringing the thrill of the ocean to cities and towns across the globe. A great example is The Wave in Bristol, saving the 2-hour drive!

What’s the breakthrough?

• Wave Pool Innovation: The Wave uses advanced wave-generating technology to create perfect, consistent surf conditions. These pools use precision-engineered machines and smart software to produce a variety of waves, from gentle rollers to challenging barrels for advanced surfers.

• Increased Accessibility: Inland surfing removes geographical barriers, making the sport accessible to those who live far from the coast. It also offers a safer, controlled environment for learning, with clean waves and expert supervision.

• Community and Sustainability: Modern wave parks are designed with sustainability in mind, using efficient water management systems and renewable energy. They also foster vibrant new communities, connecting surf enthusiasts who might never have met otherwise.

♻️ Half a House, Truly Flexible Living

The idea of “half a house” comes from Architecture practice Elemental, who delivered a radical and controversial approach toward housing in Chile, they gave people half a house. The houses are simple, two-story homes, split into two. One side is complete, the other side is empty space, waiting to be built out by the occupant. Building less can actually mean living more, especially for families and communities looking for affordable, flexible homes, crucial for Latin American countries.

What’s the breakthrough?

• Affordable by Design: The “half a house” approach provides only the essential core structure. The kitchen, bathroom and utilities. Leaving space for families to expand as their needs and budgets grow. This drastically lowers upfront costs and reduces the risk of overbuilding.

• Flexibility for the Future: Instead of locking families into a fixed layout, these homes are designed for adaptation. Owners can add rooms, extend living spaces, or even repurpose areas, making the house evolve with their lives.

• Sustainability at the Core: By minimizing initial construction, “half a house” projects cut material use and embodied carbon. This lean approach not only makes housing more accessible but also aligns with circular and sustainable building principles.

Our Takeaway:
The “half a house” model shows that sustainability isn’t just about what you build, it’s about how you empower people to shape their own spaces. By building less, we can create homes that are more affordable, flexible, and truly fit for the future. It’s a blueprint for smarter, more resilient living.