Buenos Aires apart-hotel units to be sold via fractional ownership
Developer Metrospaces has announced it will sell up to 40 per cent of its Chacabuco 1353 Apart-Hotel units in Buenos Aires through a fractional ownership scheme.
Metrospaces is a publicly traded real estate investment and development company which acquires land, designs, builds, and develops then resells condominiums and luxury high-end hotels, principally in urban areas of Latin America. The company's current projects are located in Buenos Aires, Argentina, and Caracas, Venezuela.
Company president Oscar Brito said: "This is one of the many strategies we will continue to adopt to enhance shareholder value for Metrospaces. We will also offer this service to selected third party developers in Buenos Aires, that want to offer their projects under fractional ownership to international investors. Collaborative consumption is growing at a significant pace, and real estate ownership is no exception. We will offer a one month ownership plan for an average price of $15,000 for our 46 square metre apartment units at Chacabuco 1353 project. This is a fantastic value for anyone looking to buy a vacation home they can use one month out of the year, or rent out to tourist and business men when they choose not to use their time. Much different to timeshare property, fractional ownership offers owners the possibility to participate in any capital appreciation. This is an incredible value proposition to retail real estate investors."