Fractional Holiday Getaways
Fractionals make sense due to the fact that the average UK resident receives five weeks holiday per year and second and third homeowners tend to only utilise their asset between 10 and 17 days per year so if you opt for full second property ownership you are paying for maintenance and upkeep throughout a full 365 days of the year yet only using it as little as 3% of that time!
The basics of Fractional Property, often referred to as Private Residence Clubs, are that you purchase a slice of a single property and in return you get a certain amount of weeks usage per year. Broadly speaking, fractions range in size from as large as a quarter to 1/12th.
Other benefits include that potentially you can earn rental income for your own sole benefit if weeks not utilised are rented; limit your security concerns as result of maximum usage and higher occupancy.
Dependent on the scheme you can sell your share in the property at the current property market value at any time and that you are investing in property with possible capital growth, although however the market changes you can benefit from limited surety for your portion only – not the entire value of the property.
Ultimately it is about the convenience to really enjoy your leisure time, Mr. Alter, owner at Timbers Resorts Castello di Casole, commenting on the benefits of the concierge there says “I need to make a reservation, show up and have the sheets on the bed and the groceries in the fridge – not find out who’s going to mow the field or worry about the property taxes.”
The Vigia Group has been offering Fractional Freehold Shared Ownership to second home owners, for more than 15 years. The luxury developer's portfolio of exquisite beach and golf villas and village houses in the western Algarve in Portugal is second to none.
Developments include the award winning, flagship golf and leisure resort, Parque da Floresta, the beachfront resort of Quinta da Fortaleza and stunning cliff top development The View 1 and The View 2 overlooking the Atlantic Ocean and the quaint fishing village of Salema.
Fractional freehold with the Vigia Group offers people a way of buying a top-quality dream home in the sun at a portion of the cost. Prices begin at €36,075 for a twelfth share. www.vigiagroup.com
Although we tend to think of fractionals as covering far flung exotic locations there are opportunities available closer to home. Roseland Peninsula Homes are leading the way with their 16 acre Trewhiddle site set within the beautiful Cornish countryside and comprised of 65 villas. But Trewhiddle isn’t just about the homes; it’s about creating an ideal holiday environment for couples and families alike. By providing first class facilities, there’s no pressure to be out and about every day of the holiday – you can take time out from the tourist trail to relax.
Prices for an eighth share of a property, entitling the owner to six weeks residence (or time to let) for 125 years, start from £54,950.
John Goldsmith, Director of Roseland Peninsula Homes said: “Trewhiddle is proving itself to be a very attractive proposition for anyone looking to own property in stunning South Cornwall. We believe that fractional ownership is the next big thing when it comes to investing in property and owning a second home.
“We are offering people an attractive alternative to purchasing a holiday home, especially in the current economic climate. Fractional ownership allows people to afford a top quality second home at a fraction of the price and instead of spending fortunes on up-keep and utilising a property for just a few weeks a year, we are offering excellent facilities, a vibrant yet relaxing atmosphere and up-market properties with the hassle of maintenance and up-keep completely taken away.” www.trewhiddle.co.uk
The Vis Unita Fortior award-winning GoodbyeWinterBlues.com has won the ‘Award of Merit’ from JPC Publishing Company for ‘Best International Property Service in 2006’ and the ‘Silver Award of Excellence for Property Services’ in the same year. A representative from JPC, said: “The chance to invest in something that ordinarily would be out of your reach and to enjoy so many fantastic places is simply unmissable. No one else has managed to match this brilliant offer for a fair share in some truly desirable properties.” The club concept is unique in that it is a fractional ownership club where all the shareholders have an equal share in the Company, the property portfolio and profits! We have now launched GoodbyeWinterBlues.com II and 5 other syndicates. Memberships range from €18,500 to €21,500 dependent on payment plan. www.goodbyewinterblues.com
Royal Madikwe Luxury Safari Lodge situated in the 76,000 hectare Madikwe Game Reserve in South Africa, bordering Botswana. Conveniently located just a one hour flight (or four hour drive) from Johannesburg. The Lodge is uniquely positioned in one of the very few malaria-free safari areas to enjoy magnificent sightings of the “Big Five” (Leopards, Black Rhinos, African Elephants, African Buffalos and Lions) as well as the very rare ‘wild dogs’ making it ideal for children and families alike.
The exclusive Lodge, which accommodates up to 16 guests in sumptuous suites, offers a refined touch of African luxury coupled with unsurpassed hospitality supported by a team of 18 staff, who cater for your every need, while you enjoy the beauty and serenity of the African Bush. From delicious gourmet meals to crisp fresh cotton linen, your visit is made special from the moment you arrive.
A strictly limited number of 30 year Memberships, ranging from 3 days to 3 weeks per annum are currently being offered, entitling Members to exclusive use of the property during their stay...making it your home from home...in the African Bush. 30 year memberships start at £50k and range to £250k for the 30 year usage of the entire lodge and includes all food and drink, childminding and game drives during one’s stays. This represents approximately a 75% discount on the standard rates. www.royalmadikwe.com
St. Regis Residence Clubs offer two distinct fractional opportunities- New York and Aspen. The former offers impeccable luxury and carefree living with a limited collection of extraordinary Residences within The St. Regis Hotel, New York offering the best of both worlds: first-class hotel amenities coupled with the convenience and comfort of a peerless city home. The latter a rustic yet stunningly luxurious residence in amongst the natural beauty of Aspen. The cost, time and length of occupancy depends on the type of Club interest purchased- fractional residences in St Regis New York start at $195,000. www.stregisresidenceclub.com
Looking to the future, Dubai is potentially the hottest location with Fairmont Heritage Place, Kingdom of Sheba situated in The Palm Jumeirah, arguably the eighth wonder of the world in a city of superlatives; this is the jewel in Dubai’s crown. This Private Residence Club consists of 50 stunning residences in a choice of Penthouses, townhouses – all with pools - and two and three bedroom apartments. A state of the art exercise room, private beach and landscaped gardens lie within the grounds. With "The Fairmont" experience 24 hour concierge services and discreet daily housekeeping are among the many perks. www.kingdomofsheba.com
In the same location VH Dubai will be offering their first fractional in association with RCI. “Due to the thriving interest and intrigue surrounding Dubai, guests are attracted to this stunning location at exponential rates and VH Dubai’s unique offerings have been excellently received,” said Umar Mian, CEO and managing director of VH Dubai and The VH Residence Club. Check www.grouprci.com and for the latest Dubai property news- www.selectproperty.com.