ThirdHome luxury home exchange club eyes Southeast Asia expansion

InsideRecent·2025-08-08 20:00

Singapore, 15 July 2025: As Southeast Asia continues to attract global luxury travellers and homebuyers, a unique player in the high-end travel space is preparing to make its mark on the region.

ThirdHome, the world’s largest private home exchange club for second-home owners, is eyeing expansion into Southeast Asia, targeting affluent property owners seeking exclusive, flexible and cost-effective ways to travel the world in style.

Founded in 2010 by American entrepreneur Wade Shealy, ThirdHome has built a reputation as a disruptor in the luxury travel sector. What began as an answer to clients bored of their multimillion-dollar vacation homes has evolved into a global club with over 20,000 luxury properties across more than 100 countries.

The concept is simple yet powerful: members offer unused weeks in their second homes in exchange for travel credits called “keys”, which can be used to book other homes in the club’s collection — without the need for traditional rental fees.

With properties ranging from US$500,000 to US$50 million, the portfolio includes beachfront villas, castles, penthouses, chalets, private islands and even yachts.

In addition to private homes, ThirdHome has forged partnerships with more than 150 hospitality brands and residential developers, including The Ritz-Carlton Destination Club, Four Seasons Private Residences, Six Senses and Hyatt Vacation Club.

Now, Southeast Asia has caught the attention of the ThirdHome leadership team. “We’ve had great success in the US, Europe and Australia. Southeast Asia is a natural next step,” said Shealy, the club’s founder, chairman and CEO. “This region has seen a tremendous surge in luxury second-home ownership — not just among international investors and expats, but increasingly among affluent locals as well.”

According to a recent report by Thailand-based consultancy C9 Hotelworks, luxury-branded residences now make up nearly one-third (32%) of new supply in Asia. The luxury travel market in Southeast Asia is also booming, with projected annual growth of 9.8% from 2025 to 2033. For ThirdHome, the timing couldn’t be better.

Value-added approach

The company sees its model as both a lifestyle enhancer and a real estate sales tool. Developers and agents who partner with ThirdHome can offer prospective buyers a membership at the point of sale, providing immediate access to a global network of prestigious properties and experiences.

This “value-added” approach not only differentiates listings but also supports faster transactions in a competitive market driven by experience-focused consumers.

Giles Adams (below), ThirdHome’s Director of Strategy and Operations based in London, explained that the club’s growth has been largely organic, with minimal marketing and most new members coming through word-of-mouth. But with Southeast Asia on the radar, the company is taking a more proactive stance.

“We’re planning a major push this year,” Adams said during a recent visit to Singapore. “We’ll be back in November with our CEO to meet developers, homeowners and real estate partners in Thailand, Vietnam, and here in Singapore. There’s a lot of enthusiasm around what we do — and we see huge potential in this region.”

Giles Adams, head of Strategy and Operations for Third Home, outside Third Home Office in Marbella. ALL PHOTOS: THIRDHOME

Adams acknowledged that property laws in Singapore, especially those around short-term rentals, pose challenges to growing an inventory of homes within the city-state itself. However, he believes that Singaporean members will likely contribute properties from elsewhere in the region — such as Bali, Phuket and Johor — given their regional investments and travel habits.

Unmatched flexibility

At present, Southeast Asia accounts for just 1% of ThirdHome’s global footprint, with most properties concentrated in Thailand and Indonesia. But Adams is confident that number will grow.

The company recently opened an office in Australia following a surge in sign-ups spurred by its hit TV series, Millionaire Holiday Home Swap, which aired on Foxtel and Channel Nine and is now coming to Netflix in Europe. “We saw a flood of interest from viewers looking to travel smarter and access luxury in a more sustainable, cost-effective way,” he said.

Unlike traditional rentals or direct home swaps, ThirdHome’s model allows for unmatched flexibility. Members don’t have to coordinate their travel with another party — they simply earn keys by offering time in their homes and redeem those keys for stays at any other available property in the network.

Booking fees range from US$495 to US$2,095 per week, depending on the property’s value and travel season, offering substantial savings compared to standard luxury rentals.

The club also launched an ultra-premium tier, The Reserve, in 2020, which features properties valued between US$8 million and US$60 million. These include architectural landmarks, castles and mega-villas that would typically rent for upwards of US$25,000 per week. Members of The Reserve receive a dedicated account team to help craft seamless, highly personalised travel experiences.

“Many of our members are not just wealthy, but also discerning. They want experiences that match their lifestyle, without sacrificing comfort or authenticity,” said Adams. “Our homes aren’t just places to stay — they’re curated, lived-in spaces that allow guests to immerse themselves in the local culture.”

He added that the platform’s user interface is streamlined and intuitive. Once a member uploads their property and offers available weeks, they can browse and book other homes easily online. Hosts are responsible for basic maintenance and cleaning, while optional services such as chefs or concierge support can be arranged and paid for by the incoming guest.

The cost-effectiveness of ThirdHome appeals especially in times of economic uncertainty. “When people are watching their expenses more closely, they still want to travel, but they’re asking, ‘How do I make the most of what I already own?’” Adams noted. “Our platform helps second-home owners retain and even elevate their lifestyle by leveraging unused assets.”

Demand for luxury living and travel

Despite its success, the company believes it has only scratched the surface. In the US alone, 6.8 million households own second homes, yet just 20,000 have joined ThirdHome so far.

With demand for luxury living and travel booming across Asia — including emerging second-home markets like Vietnam, Japan and India — the company is confident it will find fertile ground for expansion.

India, in particular, is on Adams’s radar. “We’d love to grow our presence there. Goa is already showing promise, and there’s increasing wealth and real estate development in second-tier cities,” he said.

As for competition, Adams says the company has no direct rival offering a similar premium exchange model. “There are other home exchange platforms out there, but they tend to be more traditional — direct swaps that are harder to arrange. Our key-based system gives people the freedom to travel when and where they want, with unmatched variety and quality,” he said.

For Singapore-based travelers and property owners, ThirdHome offers a compelling proposition: turn your second home into a passport to luxury experiences around the world, from safari lodges in Africa to penthouses in Manhattan — at a fraction of the cost of traditional rentals.

More importantly, it creates a global community of like-minded adventurers who value connection, authenticity and exceptional design.

To learn more about ThirdHome or to apply for membership, visit www.thirdhome.com.