WHAT IS FRACTIONAL OWNERSHIP?
FRACTIONAL OWNERSHIP Share the costs of buying
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and owning abroad Freehold ownership
Growing market in Europe
USEFUL WEBSITES
www.fractional.net
www.irwinmitchell.es www.kempfi
ntl.com www.csproperties.info www.onefi
fth.com www.appassionata.com www.castellodicasole.com www.villabossipucci.com www.ownergroups.com www.hpb.co.uk
www.thehideawaysclub.com www.rocksure.com www.morganforbes.com
Share in a slice of prime Costa Blanca living STAR PROPERTY
Fractional ownership is a buying method that allows several unconnected buyers to combine their resources and collectively own an overseas property.
Typically, the freehold of a property will be split into quarters, tenths or twelfths – whatever share you own will determine your purchase price, maintenance costs and how much personal use you get each year. For example, if you own a quarter share, typically you will receive 13 weeks’ use annually and pay 25 per cent of the maintenance costs.
It suits the following types of buyer: • Those who would love to buy a holiday home but lack the funds.
• Those who could buy outright but don’t believe it makes fi nancial sense to buy a home abroad and then use it for just a few weeks a year.
• Those who would like to test holiday home ownership before making a larger investment.
• Those who would like to spread their money across a number of resorts, or countries, and reduce their fi nancial exposure.
Other advantages are: owners benefi t from any asset appreciation as they own part of the freehold; it makes acquiring a luxury lifestyle in a high-quality home more affordable; fractional ownership property tends to be on professionally managed resorts and owners can usually rent out their annual entitlement and generate income.
Caribbean: from $40,000 (£24K)
Location Bacolet Bay, Grenada. Property Apartments and villas. Fraction 12th shares, rental guarantees. Contact Property Frontiers: 01865 202700;
www.propertyfrontiers.com.
Spain: fractions from £163,000
Location Moraira, Costa Blanca. Property This fi ve-bedroom villa sits on a 1,506-sq-metre plot and includes a self- contained one-bedroom apartment. The outside includes a pool, and covered bar and BBQ area. The location is hard to beat – just
Search for more Fractional Ownership properties at
92 A PLACE IN THE SUN JUNE 2011
one kilometre from the sea and close to the the town centre. Recently modernised and with sea views, the property has an outright purchase price of €1.2million (£1.06m) Contact CS Properties: 0116 259 5251;
www.csproperties.info.
Italy: from £90,000
Location Montefi ore dell’Aso, Le Marche. Property Two large villas set in 5 acres. Fraction 10th shares – 5 weeks’ use p.a. Contact Appassionata: 00 39 0734 658775;
www.appassionata.com.
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