Palme Royale 5 star Beach Resort Hurghada Launched With Fractional Ownership Option

21.01.2009

Some say ultimately right now, we all want pretty much the same thing with our overseas property. Namely, the lowest possible priced property that satisfies our requirements.

But is fractional ownership for you and can it help buyers get what they want for less money? Reports Lance Nelson from Jet2Let Property Ltd

Will Fractional Ownership Grow?

Some industry experts have been predicting that fractional property will take over from freehold sales in Europe within 5 years. For the average income, non-retirement, buyer a fractional ownership offers some tantalising benefits over freehold ownership:

• larger and better located property than could normally be afforded

• long own use periods not required for many in employment

• higher property utilisation

• much lower entry cost to property ownership

• is the season long enough to satisfy all four owners?

• is the back office administration of high quality?

• are you compromising your ownership due diligence?

• are you happy to forgo some individual input into the property?

• are you generally happy to share property?

• what is the premium you are paying for administrating the scheme over outright purchase?

• provisions for exit and resale of your fraction

What Developments Are Suitable For Fractional Ownership?

Look out for developments that try and launch fractional ownership to make them poor projects into good ones. Check carefully the details of administration.

Proper Due Diligence Is Still Vital For Fractional

Right now, Jet2Let Property are launching Palme Royal Five Star Beach Resort in Hurghada, Egypt with a fractional ownership option. This development of mainly on the beach sea facing apartments, front line villas and townhouses set the standard for five start luxury in the area.

The resort is to be managed by a five star Swiss hotel chain will mean affordable luxury.

Final Thoughts

Beware of sun and beach locations where the August peak holiday season dominates. This happens in many of the traditional holiday areas of Spain. Cold winter temperatures do not earn rental - unless you are in ski resort.  Go for Egypt where the infrastructure is already in place. Prices are very low.

The season is all year round.

Other interesting fractional schemes area to be found in the new David Lloyd on the Mediterranean coast in Saïdia in partnership with Le Jardin de Fleur.

Fractional ownership can be the perfect way to get the property you want at a fraction of the normal price. Just make sure it is what you really want before committing as you can buy jointly with other people to achieve a similar reduction in cost.

And if you are part of a larger family looking for a prime beach front location, then take a look at Palme Royale Resort in Hurghada.  Its year round rental and own use during all the popular holiday periods in winter, spring summer and autumn mean that there are plenty of school holiday weeks to share between four owners.

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