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Latest NewsFractional Firms push for Network ExpansionFractional Firms push for Network Expansion Overseas Property Professional |Wed, August 5th, 2009 Fractional consultancies are attempting to widen the market with sales models that place more emphasis on agent networks. As the fractional model becomes increasingly popular in Europe, companies are hoping to attract more developer clients by boasting better links with partners who can apply local knowledge. Fractions Abroad is one company that is setting up a network of affiliate partners to act as master agents, in order to identify both developers and sub-agents to work with in each local market. It has already recruited six partners in destinations in Europe, the Caribbean and the Middle East, and aims to build a network with a total of 23 partners in 19 locations including Asia and the Americas. The company’s managing director, Paul Anderson, said joining forces with key local firms will allow access to existing networks of developers and agents. “Our partners will intimately know each area and its ... /index.php/lates-news/131.html Will Fractional Ownership save the Spanish Property market?Will fractional ownership save the Spanish Property market? Kyero | Wed, Apr 8th, 2009 Fractional property will take over from freehold sales in Europe within five years, according to industry specialists, as poor economic conditions leave its legacy on the world’s mid-range buyer market. Fractional ownership was already growing in prominence with global buyers before the downturn, according to data from Mintel and the world’s two biggest fractional consultancies, the Ragatz Association and Northcourse Ltd, which revealed that in2007 the fractional ownership industry was worth US$ 1.98bn, (20% up on 2006) excluding destination clubs which registered a further $2bn in sales. In 2008, the market is predicted to be worth $1.2bn alone in the Middle East, with the majority of establish European and Mediterranean markets all recording strong growth in sales figures. The industry is also taking root in Egypt, with consultancy Fractions Abroad, making it, what it claims, the first company ... /index.php/lates-news/130.html Buying a small piece of the actionBuying a small piece of the action Pedro Arrais, Times Colonist | Thu, Oct 23rd, 2008 Consumers looking for a cost-effective alternative to hotels and vacation homes are discovering the benefits of owning a fraction only of a second home. While Canadians have long-embraced the idea of owing a vacation getaway, rising costs of a cottage by the lake or waterfront property makes it cost-prohibitive to all but the well-heeled. Fractional ownership of a home, usually a vacation or second home, means the cost of a property can be shared by up to 20 different buyers. Fractional ownership differs from timeshares, where people purchase blocks of time in a resort. Instead, fractional owners purchase their property with a fee-simple title. This means they can mortgage, buy, sell or pass deeded property to others. "It was an opportunity to own a piece of paradise," says Adrienne Ash of Vancouver, who purchased a unit in the Mayne Island Resort and Beach Homes. "Waterfront properties ... /index.php/lates-news/129.html Fractional Ownership Beats the Credit CrunchFractional Ownership Beats the Credit Crunch Neil Robertson - Reach Together | Thu, Aug 7th, 2008 One area of the real estate market is bucking the generally negative trend, with values and sales volumes up. Fractional ownership of luxury real estate has been slowly gaining in popularity over the last10 years or so, but now seems set to reach a tipping point and become a mainstream concept. What is the Credit Crunch? In case you've been living in the wilderness for the last year, a short history of the credit crunch! It all started with a relaxation of lending criteria, both with regard to the size of loans compared to income and the credit rating of the borrowers. People who 10 years ago wouldn't have been able to get a mortgage at all were offered large loans with very little proof of income. These loans were then packaged up by "clever" bankers and sold on to financial institutions around the world. This fueled a boom in asset valuations and while this continued everything appeared OK - if people couldn't afford ... /index.php/lates-news/127.html Fractional Ownership Heads to EuropeFractional Ownership Heads to Europe Amy Cortese, New York Times | Sat, Aug 9th, 2008 A FEW years ago, Michael Farver decided that it was time to start thinking about making changes in his life. For one thing, he wanted to travel more with his wife, Susan, and their 4-year-old daughter, Natalie. "If I could spend six months a year in Italy, I would buy an old farmhouse and fix it up," Mr. Farver said. "But that's not going to happen." Mr. Farver, who lives in Plantation, Fla., still maintains a busy schedule running the nonprofit group End Childhood Hunger. But he found another way to fulfill his dream: he bought a share in Borgo di Vagli, a restored14th-century hamlet in the Tuscan hillside. "The thought of being able to own a piece of that struck a chord," he said. 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 ... /index.php/lates-news/126.html Financial crisis: Luxury brands boom as rich fly to qualityFinancial crisis: Luxury brands boom as rich fly to quality Jessica Fellowes, Telegraph | Sat, Oct 18th, 2008 Downturn, credit crunch, recession, global meltdown: there's no escaping the fact that the economic outlook is grim. But there's one market that is showing remarkable resilience: luxury. Private jets, diamonds, art, antiques, Rolls-Royces and even Savile Row suits are all still selling, showing signs of bullishness in a financially fragile world. Could luxury be the one remaining boom in the bust? If you wanted to judge the optimism of luxury consumers this week, you couldn't have done much better than attend Thursday night's London launch party of The Wall Street Journal's new magazine, WSJ, dripping with adverts for brands such as Chanel, Dior and Armani. The Royal Academy of Arts was buzzing with the capital's glitterati. Erin O'Connor, supermodel and face of M&S, was there, draped in designer labels - Moschino jacket, Dries Van Noten shirt, Smythson bag. "I always buy ... /index.php/lates-news/125.html Buying a Vacation Home by the sliceBuying a vacation home by the slice Connie Potter, The Oregonian | Sun, Sep 7th, 2008 For many buyers, though, fractional ownership is a perfect way to match budget and time constraints. Instead of spending $599,000 for a 2,200-square-foot, three-bedroom home, buyers can purchase a one-eighth deeded share for $120,000 or a one-fourth share for $210,000. With a one-eighth share, they get to use the home 61/2 weeks a year on a fixed weekly or monthly rotation. With a quarter share, they can use it 13 weeks a year. "It's a chance to own a property you otherwise might not be able to afford," said Andrew Montgomery, architect for the project. The resort community has been approved for 1,650 single-family homes, townhouses and condominiums. Every floor plan in the project will be available in fractional ownership, with some selling as low as $60,000 for a one-eighth share, said developer Jeff Teeny. Teeny commissioned an analysis by real estate adviser Wally Hobson that showed a ... /index.php/lates-news/124.html Five Facts About Fractional Real EstateFive Facts About Fractional Real Estate Carl Berry | Fri, Aug 1st, 2008 1 Fractionals are here to stay. Fractional ownership has always been with us. Two or three couples team up to purchase a cabin by A clear mountain lake; a group of siblings opts to buy a seaside home to vacation together or separately; a ski chalet for one group of friends become a fall mountain retreat for another. Now the term "Fractional Ownership" has been formalized. Last March, Dick Ragatz of Ragatz Associates has reported at that more than $1.5 Billion in sales of Fractional Properties was achieved by this luxury component of the shared ownership industry. Today's Fractional Real Estate Owners have benefited by the lessons learned from Timesharing: they are protected with deeds and title insurance, have the ability to obtain consumer loans; they can even re-sell their property. Every major hospitality brand, from Four Seasons to Starwood to Ritz Carlton has given a commitment to Fractional Resort Real Estate. Star Resort Group, a sales and ... /index.php/lates-news/123.html
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