Fractional ownership is becoming an increasingly popular method of buying a property in Spain according to local agents, as growing numbers of potential buyers who lack the capital to buy a home outright look for new ways to make the most of the cheap prices in the Spanish property market.
“Fractional ownership has been big in the US for decades, it now works well in Greece and Portugal, but Spain has stuttered – largely because those estate agents in the mid-late 2000s over-inflated prices and scared buyers away” commented Nick Stuart, Director of Spanish Ownershare, a division of Spanish Hot Properties promoting fractional ownership throughout Spain. “Now, as wallets tighten, Spanish property prices fall and the pound strengthens, we have the perfect environment to resurrect fractional ownership in a transparent, inexpensive manner” he added.
As well as proving inexpensive for investors (Spanish Ownershare are marketing a two bed in the Costa del Sol for just €55,000, allowing investors 12 weeks' worth of usage), recent research shows the average holiday home owner only uses their property for around 40 days of the year, meaning that for much of the time owners are paying running costs for a property that is not in use. Fractional ownership means that costs are split between all investors and are organised by a central management company meaning less hassle and cheaper bills.
If you want to find out more about fractional ownership and whether it's the right sort of investment for you, make sure you visit The Fractional Pavilion at A Place in the Sun Live, where there will be several fractional companies ready to share their advice and expertise. Spanish Hot Properties will be at stand C53 throughout the weekend.
Tickets to the show, which takes place between the 28th-30th September 2012 at NEC Birmingham, are available now priced at two for £15 and come with a FREE six month subscription to A Place in the Sun magazine. For more information visit our exhibition pages.
Before your visit, check out our recent article on the ins and outs of fractional ownership.