SEOUL, South Korea, Dec. 20, 2023 /PRNewswire/ — Once deemed a privilege exclusive to the affluent, owning vacation homes has evolved into a coveted aspiration for people across all walks of life. Television programs dedicated to showcasing these retreats have proliferated, fueling the collective fantasy of residing in the city during weekdays and escaping to a vacation home on weekends. Earlier this year, Korea bid farewell to the half-century-long era of substantial taxes imposed on vacation homes.

Recognizing this trend, Staybility launched a shared vacation home service that allows multiple owners to own a single vacation home. The advantage is that if the vacation home is jointly owned, the burden of the expensive purchase and management costs can be shared.

In February, Staybility sought 12 co-owners for Million Ground, a luxury villa in Hongcheon, Gangwon Province, and within a month, they had enlisted 12 buyers. The list of buyers was comprised of executives from prominent domestic and international corporations, as well as founders of renowned startups in both Korea and abroad. The anticipated opening of the villa is set for December 15. Given the overwhelming popularity of the offering, on October 31, Staybility commenced recruitment for co-owners for “Million Ground Yangpyeong,” a 1,531m² villa in Yangpyeong, Gyeonggi Province.

Million Ground, a shared vacation home managed by Staybility, brings together individuals seeking vacation home ownership. It sells ownership shares and allows co-owners to share usage during specific periods. Owners of the villa can reserve their stays through a dedicated application (app), ensuring non-overlapping usage times. On days when the villa is not in use by the owners, it becomes available for booking by general travelers.

Explore Million Ground Yangpyeong : Click the link below:

Million Ground, a co-owned vacation home
Million Ground, a co-owned vacation home