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FRACTIONAL OWNERSHIP HOW IT WORKS


O


wning an overseas holiday property is a relatively expensive business, involving maintaining and managing it from afar – or paying someone else to do it for you – even though


you might not be able to get there to enjoy it for more than a few weeks a year.


The idea of sharing a vacation property with friends and family has been going for decades and it’s an appealing principle - owners get to use a property as many times as they need each year, and save on the purchase and upkeep costs of outright ownership.


So in these cash-strapped times, when most of us are especially wary about putting all our savings in one place, surely fractional ownership is a great solution?


Fractional ownership allows you to own a share – or fraction – of the property that equates to a set number of weeks usage per year. The idea has worked well in the aircraft and yacht sectors – both luxury products like holiday homes that most people can only enjoy for a proportion of their hectic lives. Of course what it also means is that people can afford to “own” something they would not be able to afford in its entirety, thus opening up a “luxury” lifestyle to them. That’s all well and good, but fractional ownership


in overseas property has in the past suffered from being tarnished with the same brush as timeshare (though the industry has gained respectability via brands such as Hilton, Marriott, Disney, Four Seasons and others).


26 AIPP CONSUMER GUIDE


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