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My son has recently requested that I advise him on the possibility of buying a timeshare in Spain, but given the turmoil in the Spanish markets at the moment, I’m reluctant to do so. I’ve read about fractional ownership of grand Italian properties. Could you please explain the concept? And would this be a more sensible investment?
Geraldine Wilkins, via email
As a lifestyle investment, Fractional Ownership makes sense, it enables a number of buyers to collectively own a luxury property, which is professionally managed and maintained. On average, a holiday homeowner only uses their property for about one month a year but pays for the entire year’s running costs. Fractional owners don’t have the financial burden of maintaining the property all year round; they simply split the maintenance fees with fellow owners.
Appassionata offers a simple and straightforward way to own an Italian property for a fraction of the cost, our owners are investing in ‘bricks and mortar’ – an asset which can be passed on to family or sold. Owners buy a tenth share in a property which gives five weeks’ residency each year.
Italy versus Spain, there’s no comparison!
Dawn Cavanagh-Hobbs, Appassionata