Latest news with #ThirdHome
CNA
16-07-2025
- Business
- CNA
CNA938 Rewind - ThirdHome – stay at someone's ultra-luxurious holiday home while they enjoy yours!
In 'Destination Anywhere' Melanie Oliveiro discovers the latest trends in the global luxury home exchange sector with Giles Adams, director of strategy & operations at ThirdHome, a luxury travel club for second-home owners. Adams will explain second-home ownership, which refers to owning a vacation property in addition to one's primary residence. Instead of renting out their homes to strangers (like the Airbnb model), ThirdHome members can exchange unused time in their property for stays in other members' luxury homes around the world – facilitating an extravagant holiday with a difference!
Bangkok Post
01-07-2025
- Business
- Bangkok Post
ThirdHome targets branded residences for growth in Thailand
ThirdHome, a luxury home exchange club for second-home owners, aims to persuade branded residences in Thailand to join its network amid a sluggish property market, with the goal of doubling its Thai properties to 100 by the end of 2025. Giles Adams, the company's director, said the branded residence market in Thailand presents significant opportunities for ThirdHome as the country has a large number of branded residences for sale -- the largest market share among active pipelines in Asia. "Our global membership numbers more than 20,000, including many potential buyers whose second homes are valued at US$750,000 and above," he said. According to hospitality and real estate consultancy C9 Hotelworks, the active pipeline of branded residences for sale in Asia has reached a historic high of $30.7 billion, comprising 38,893 units across 178 projects. Thailand accounts for 18% of the market, with 14,389 units from 63 projects worth a combined $5.6 billion, followed by the Philippines at 12% and South Korea at 11%. "Southeast Asia, particularly Thailand, is a major focus for us this year and next, as it remains highly popular among our members," said Mr Adams. "Nearly 50 properties in Thailand have joined our network organically. However, demand from our members for this country and the region far exceeds the available supply." He said the current market situation, marked by a sluggish economy, resembles the period in 2011 following the 2008 financial crisis, when the global economy was still reeling from the collapse of Lehman Brothers. "We had a number of developers who had built beautiful resorts but were unable to sell them due to the economic environment," he said. "By partnering with us, developers can tap into this customer segment by making their branded residences available for stays by our members." With the concept that your second home can be someone else's third, ThirdHome allows members to trade unused time in their second homes for access to properties in popular destinations around the world. To join, applicants must list a qualifying property valued at $500,000 or above. Each property is reviewed by ThirdHome to ensure it meets the club's standards before being approved for membership. When a member's property is booked, they receive Keys -- ThirdHome's internal currency -- which can be used to reserve stays at other members' homes. ThirdHome charges a booking fee for each reservation, ranging from $495 to $1,900, depending on the property and length of stay. The number of Keys a member earns depends on the value of their property. At present, more than 20,000 properties valued at roughly $40 billion in more than 100 countries are available worldwide through the platform. About half are branded residences. Of these, 50 are located in Thailand, including 16 in Samui, 12 in Phuket, seven in Krabi, and one each in resort destinations such as Koh Kood, Phangnga, and Hua Hin.
News.com.au
27-05-2025
- Business
- News.com.au
Inside the private club where Aussies swap homes with strangers
Luxury home swapping has become big business, with one exclusive club adding 500 new Australian members in just the past year. Global home exchange club, ThirdHome, is booming as more Aussies trade their holiday homes for more luxurious experiences, with the club now boasting a portfolio of more than 20,000 properties in 100 countries around the world. It recently opened a Gold Coast office to service its growing member base and support the expanding market for prestige second homes. 'Australia and New Zealand is a great market for what we're doing,' US founder Wade Shealy said, speaking on the sidelines of the Australasian Real Estate Conference (AREC) on the Gold Coast. 'We've added about 500 new members in the past year (in Australia). 'It needs to be a desirable location, and here on the Gold Coast is a very desirable area for our members to go to.' Mr Shealy, whose wife Debbi Fields is the self-made billionaire founder of Mrs Fields Bakeries, said he was planning to open an office in Asia next to allow more members to travel between Australia and Asia rather than just the United States and Europe. MORE: The surprise city where it costs more to park than Sydney Kamala Harris weighs in on Aus housing crisis Launched in 2010, ThirdHome allows home owners to trade their unused time in their second home to gain access to other members' yachts, villas, estates or castles. Members are able to travel rent-free, with the club using a travel credits system. Members pay a nominal exchange fee, ranging from $700 to $2000 a week. The club's newest Australian members include a couple in Sydney's Northern Beaches, the owner of a Japanese ski chalet, and a couple who recently listed three international properties and are now travelling the world almost cost-free. Homes in the club's Australian portfolio are scattered from Bondi Beach, Byron Bay, Melbourne, Gold Coast hinterland, and Sunshine Coast, and range from $1.5m, up to $100m. 'We look for the location, and we also look at the property and make sure it's in great condition, the interiors are up-to-date and desirable,' Mr Shealy said. 'The hosts are typically people who live in Australia, for example in Sydney, and have a house on the beach on the Sunshine Coast. They love to travel, they're very adventurous and they're trusting, because they're willing to give their house to another club member.' Mr Shealy said only half of ThirdHome's properties were used for short-term rental accommodation, with many members preferring to only open their homes to club members. 'Typically, a short term rental can only be utilised for 25 weeks a year, so leaving it sitting empty for the rest of the time just doesn't make sense,' he said. 'People are so mobile now, they want to go different places. ThirdHome is a way they can justify buying a second home. 'I think people are thinking more about how to use their home to enhance their life rather than for short-term rental. Sure, it generates some revenue and helps pay some of the bills, but it doesn't add to the quality of their lives.' During the conference, Mr Shealy was gifting more than 1000 agents attending AREC a luxury holiday at one of ThirdHome's global properties — with only the booking fee to be covered.
