Ukrainian project Timepass has attracted over $1 million in investment in the «time ownership» model in resort real estate. The team offers an alternative to the classic purchase of a vacation home — instead of a property, the investor gets access to the time of residence.
Ukrainian project Timepass has attracted over $1 million in investment in the «time ownership» model in resort real estate. The team offers an alternative to the classic purchase of a vacation home — instead of a property, the investor gets access to the time of residence.
The first site for testing the model was the mountain village of Kryla Karpaty by EDEM.
The idea behind Timepass is a shareholding: instead of buying a house or apartment outright, the investor gets the right to use it for a set period of time. The unit of account is a «timepass» — essentially one day of residence. Accordingly, seven timepasses give a week of vacation each year. Entry into the model starts at around €6,500, and this one-time payment provides access to the property without any time limit.
The model works as a kind of «subscription in reverse»: instead of regular payments, the user invests once and receives a long-term right of use. In this case, the days can be distributed throughout the year, used in several trips, changed the format of housing — for example, from a cottage to a chalet — or transferred to other people. The cost of a «day» is not fixed and depends on the season, which creates an internal economy of supply and demand.
Timepass positions the product not only as a form of recreation, but also as an investment tool. According to their estimates, the market value of renting a cottage is about €225 per day, while for the owner of a timepass the costs are limited to a service fee of about €35. Due to this, the difference can generate savings of over a thousand euros per year, which potentially allows you to recoup the investment within several years even without renting it out.
At the same time, other monetization scenarios are also envisaged. Unused days can be transferred to third parties or rented out, as well as delegated management to a management company. In this case, the owner actually receives passive income without operational participation. In addition, the team expects the value of the time passes themselves to increase along with the real estate market.
The key difference from the classic investment model is that the investor and the user become one. In this case, the vacation ceases to be an expense and becomes part of the return on investment, and real estate becomes a service, not just an asset.
The project has a special focus on the business audience. Companies can use time passes for team building, strategy sessions, or employee recovery, effectively turning regular hotel expenses into a share in real estate.
Although the timeshare model itself has long existed on the global market, Timepass is trying to adapt it to modern expectations — with greater flexibility, internal economy of use and an emphasis on the investment component. Raising over $1 million at an early stage may indicate interest in such formats in Ukraine, especially against the backdrop of growing domestic tourism and the search for alternative ways of investing.
