An interesting article about the conversion of standalone vacation homes to fractional.
Fractional In the News
In a sign that the credit markets are thawing, Resort Equities announced today that bank financing is now available on most of its shared ownership interests.
Wealthy homeowners armed with surplus cash and a desire for luxury holidays have poured millions of pounds into the shared ownership industry over the past decade. The property boom that gripped the world made it seem as though the good times would never end and a few hundred thousand pounds for membership and annual fees for a scheme seemed a small price for a “millionaire’s lifestyle”.
According to FractionalLife.com, fractional industry speakers at the recent OPPLive/Property Investor Show in London feel that fractional ownership is set to surge in popularity over the next several years.
Established US developer Richard Stockett is embracing the fractional ownership concept with zeal.
Trying to accurately capture what is going on in cottage country’s fractional-ownership market is much like trying to stuff a cloud into a mason jar: It’s hard to get a grip on the darn thing. A Canadian newspaper discusses fractional ownership.
San Francisco Chronicle, July 5, 2009
With the economy in turmoil and the real estate boom a distant memory, some people are now looking to sell their vacation homes. Well, at least parts of them.
Long popular in the United States, fractional ownership — in which the costs of a vacation home or other asset are divided among a pool of members — is steadily making its way across the Atlantic. For prices starting at $100,000, not including annual dues, buyers can own a piece of a coveted property in the Tuscan hills, in the heart of Florence or in other European locales.
Excellent article discussing fractional ownership. Discusses Lake Tahoe’s Old Greenwood resort as an example. Slight error in the story when she discusses “Destination Clubs” as fractional ownership, as many are NOT ownership but rather a sophisticated right-to-use concept.