Norrnäs, Värmdö [Stockholm Archipelago]

MYNE Homes expands into Sweden

Germany / Sweden: Berlin-based vacation home co-ownership platform MYNE Homes is strengthening its position in Europe by expanding its offerings to include premium vacation homes in Sweden.

Initially, MYNE will offer four properties located in the exclusive Stockholm Archipelago and popular ski resorts in the northern part of the country. By taking the step, the company has become the first shared ownership platform to offer real estate in Sweden.

To lead local business development, Ola Mattisson, a native Swede with a track record in luxury real estate and technology, has been appointed as the general manager.

Nikolaus Thomale, founder and CEO of MYNE, said: “Sweden is an engaging market with significant potential for various reasons.

“Firstly, there are many overlaps between our existing real estate portfolio in Southern Europe and the preferred travel destinations for Swedish citizens, particularly Spain, Italy and France. Additionally, Sweden is a well-known year-round versatile vacation destination with excellent infrastructure,” he added.

Even Thomale’s family has owned a vacation home in Sweden for 25 years, but nowadays, due to the high costs in comparison to limited usage, they would not consider acquiring it in exclusive ownership.

Thomale continued: “Under the current economic conditions with high interest rates, inflation, and significantly increased maintenance costs, vacation homes in full ownership simply don’t make sense anymore for the majority of people.

“Few are willing to invest a lot of time and effort in maintenance and management, especially when paying the full price for a property that is only used a fraction of the year,” he added.

Founded in 2021, MYNE now offers approximately 40 properties in six European countries: Germany; Austria; Italy; Spain; France; and Sweden.

The co-ownership platform presents the opportunity to purchase shares in a high-quality, individual holiday property in popular holiday destinations, starting from an equity investment of €50,000.

Via the digital platform, co-owners can have the properties managed on an ongoing basis for a monthly fee – from furnishing, to operation, to maintenance. A smart scheduling system ensures that all co-owners can use their property according to their personal preferences.

MYNE secured €23.5 million in seed funding in July 2022 to disrupt the holiday home co-ownership market, and last March, the company also acquired German competitor VillaCircle.

Thomale was a speaker at the inaugural STRz Summit in London in October, when he participated in a panel on ‘All of the fun, none of the hassle – next-generation membership clubs’.

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