VANCOUVER, British Columbia--(BUSINESS WIRE)--Today, Canada’s luxury vacation home co-ownership company, wecasa, officially launches. The real estate technology business has announced its first two Canadian properties in British Columbia, ahead of several additional properties in BC and Ontario in the coming months. Starting today, Canadians can co-own homes in Whistler and the Okanagan. Each home can be shared by a minimum of two and a maximum of eight wecasa owners. In contrast to traditional timeshares and many other forms of fractional ownership, wecasa owners share ownership of a distinct luxury home. When they're finished enjoying their vacation home, they can sell their ownership and receive the benefit of any appreciation in the value of the property.
Co-ownership of fully managed second homes is a fast-growing category in the US - fuelled by unprecedented demand for leisure properties from remote workers and retiring boomers. wecasa is the first company to solve the unique regulatory and financing challenges in Canada to bring the proven second home co-ownership model to local buyers and properties. Unlike owning a second home all to yourself, wecasa provides a full-service, tech enabled solution that manages the property and removes the burden of maintenance and budgeting.
Currently, most luxury second homes sit empty for the majority of the time, meanwhile demand for second homes has never been higher. wecasa aims to solve this long-term supply and demand imbalance by allowing existing owners to right-size their ownership in their second home to the amount of time they use.
“At wecasa, we see an opportunity to fundamentally change the way Canadian vacation property is owned by offering a superior ownership experience for a fraction of the price through fully managed co-ownership,” said Mark Proudfoot, Co-founder and CEO of wecasa. “We believe that systemic shifts like flexible work and baby boomers retiring at unprecedented rates will continue to create growing demand for a finite amount of second home inventory. By introducing co-ownership to the Canadian market, we will increase the utilization of high-cost luxury homes, which in turn will reduce the number of buyers competing for single-family vacation dwellings at more affordable price points.”
wecasa aims to be Canada’s number one choice for vacation home ownership. The company is partnering with leading real estate agents to acquire elevated second homes in the most desired locations and is rolling out an agent partnership program to incentivize agents to introduce their clients to wecasa.
wecasa’s exclusive new properties include:
- Whistler: A gorgeous, architecturally designed mountain home is the ideal year-round luxury retreat. The 5,200 sqft oasis sits on a 16,000 sqft lot with expansive views of Whistler Blackcomb. The outdoor living space boasts a large pool and hot tub with built-in heaters throughout. The luxury home includes five main bedrooms, seven baths and a two bedroom suite, making it the perfect escape for family and friends.
- Naramata: Surrounded by vineyards and orchards, the quiet village of Naramata offers artisan shops, wineries, a farmers market and beautiful beaches and parks located just across the street from this brand new development. The main level offers a bright open floor plan with a modern kitchen, dining area, cozy living space, and powder room. The massive private roof top comes complete with open and closed patio areas, an outdoor kitchen, a gas fireplace, and breathtaking views of Okanagan lake.
To learn more about wecasa’s brand new listings, including how to become a co-owner, please visit: https://www.we.casa/
About wecasa
wecasa is a real estate tech company that helps people own luxury second homes for a fraction of the price and without the traditional hassles of ownership. They do this through a tech-enabled co-ownership model that’s designed specifically for Canadians. The company was founded in 2021 by Mark Proudfoot and Alex Conconi, and is backed by a core group of entrepreneurs and real estate experts who are passionate about making the future of living and working better. For more information visit: https://www.we.casa/
