The appeal of a European pied-à-terre has long captivated high-net-worth individuals seeking a foothold in the world’s cultural capitals. Today, as American buyers increasingly pursue second homes abroad, a new model of ownership is removing traditional barriers.
Pacaso, the global leader in luxury second home co-ownership, curates luxury residences in premier European destinations where expert design, historical significance, and white-glove management converge. With properties like this sophisticated heritage apartment in London’s Mayfair and this refined residence in Paris’ Saint-Germain-des-Prés, Pacaso addresses surging demand for European vacation homes while streamlining the complexities of international ownership.
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Rising Demand for European Urban Residences
American buyers are demonstrating unprecedented interest in European vacation homes, driven by the desire for cultural immersion and strategic positioning in global business hubs.
A Shifting Ownership Paradigm
The traditional pied-à-terre concept is evolving beyond its historical definition. While wealthy individuals once viewed urban apartments as exclusive sanctuaries reserved for the ultra-affluent, today’s high-net-worth buyers seek functional, centrally located residences that serve as seamless extensions of their lifestyle. According to Pacaso CEO and co-founder Austin Allison, buyers have always been interested in the pied-à-terre, yet the method of ownership is transforming. Pacaso’s platform is becoming the go-to option for discerning buyers seeking hassle-free access to luxury urban residences, addressing both lifestyle priorities and right-sized ownership.
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The appeal extends beyond leisure. As emerging hubs like Miami, Milan, and Dubai join established markets in New York, London, and Paris, buyers recognize that strategic urban properties offer connectivity to business networks, cultural institutions, and social circles. European cities, particularly London and Paris, maintain their position as premier destinations where historical significance intersects with modern commerce.
Market Momentum and International Interest
The movement of wealth continues to drive growth in prime property markets across cities such as Madrid, Miami, and Dubai. This momentum reflects broader trends in luxury real estate, where properties in high-demand areas with historical architectural elements command premium valuations. European destinations with deep cultural heritage and established financial centers remain particularly attractive to international buyers seeking both lifestyle enhancement and reduced operational burden.
Pacaso’s European expansion illustrates this demand trajectory. When the company introduced a two-bedroom residence on Rue du Bac in Paris’ 7th arrondissement, it became the fastest-selling listing of 2024 and the quickest to sell out in company history. Subsequently, Pacaso expanded its footprint with acquisitions in Paris, London, Florence, Milan, and Rome, all prime hubs for culture and commerce. Many properties, such as those in two meticulously preserved 18th- and 19th-century buildings on Rue du Bac, immerse owners in the city’s essence through prized locations and authentic architectural character.
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Pacaso’s Approach: Curated Properties and Seamless Ownership
Rather than functioning solely as a listing service, Pacaso distinguishes itself by curating private residences in premier destinations that already feature expert design and exceptional amenities.
Eliminating Traditional Barriers
The complexity of purchasing property abroad has historically deterred American buyers. Pacaso addresses this friction by handling every aspect of the transaction and ongoing management. Joey Byrne, Pacaso’s Head of Europe, emphasizes the comprehensive nature of their service: “We’ve tackled every challenge for buyers from structuring ownership and navigating European taxes to setting up utilities. We’ve seen many American buyers excited to finally own abroad, as we eliminate the friction and uncertainties in the process and ongoing management.”
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This approach proves particularly valuable in European markets, where regulatory frameworks, tax structures, and property management protocols differ significantly from American norms. By assuming responsibility for these complexities, Pacaso transforms international ownership from a daunting prospect into a turnkey experience. Operating expenses such as utilities, taxes, and insurance are shared pro rata and passed to owners at cost, while the SmartStay™ scheduling system ensures equitable booking throughout the year, providing flexibility without the administrative burden typically associated with shared ownership arrangements.
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London and Paris: Exemplifying the Pied-à-Terre Experience
Pacaso’s London property at 6 Charles Street in Mayfair embodies the ease and sophistication of turnkey urban living. Fully furnished and professionally managed, the residence offers effortless ownership in one of the city’s most prestigious postcodes, just moments from Berkeley Square, Mount Street’s designer boutiques, and Hyde Park. The three-bedroom, three-bathroom residence spans 162 square meters and features classical elegance married with contemporary craftsmanship.
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High ceilings and herringbone oak flooring set a timeless tone, while expansive windows fill each room with natural light. The kitchen pairs Gaggenau and Miele appliances with Dornbracht tapware and stone worktops, designed for both function and form. Bathrooms finished in marble and porcelain feature custom vanities, heated towel rails, and under-floor heating, complemented by comfort cooling throughout. Smart home technology, including a Crestron lighting system, Banham security, and video entry, adds modern convenience, while 24-hour concierge service delivers hospitality-grade support.
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In Paris, the residence on Rue Madame in the 6th arrondissement offers a classic Left Bank experience. Located in Saint-Germain-des-Prés, the fully renovated two-bedroom apartment sits on the second floor of a late 19th-century building with elevator access. Offering 91 square meters of living space, the residence includes a bright living and reception room, a kitchen with dining area, two bedrooms each with en-suite bathroom, a separate guest toilet, and a dressing room. A cellar is included. The location provides a five-minute stroll to the Jardin du Luxembourg and proximity to iconic establishments like Café de Flore.
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Pacaso’s fully managed co-ownership model allows buyers to purchase the right amount of ownership for their needs, starting at one-eighth share. This structure addresses a fundamental challenge in vacation home ownership: the significant expense of acquiring and maintaining a residence typically used for only a few weeks each year. By reducing the capital outlay while maintaining access to exceptional properties, co-ownership broadens access for globally mobile buyers.
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A New Standard for International Ownership
Pacaso’s expansion into European markets addresses rising demand for vacation homes abroad while reimagining the ownership experience. By curating properties in prestigious neighborhoods with historical significance, managing the complexities of international transactions, and providing ongoing white-glove service and property management, the platform removes traditional barriers that have constrained American buyers.
