Buy a Billionaire's Property or Invest in Bulgaria for Less
For example, luxury estate agent EUPP in London, are marketing a superb 11-bed villa on the French Riviera for £31,000,000! How many people are there in the world that could spend £31,000,000 on a holiday home? Probably more than one might imagine, but I'm certainly not amongst them! Properties of this type are the luxury privilege of pop stars and oil barons, or are they?
Just imagine if this property were to be bought jointly by a large number of people, who were interested in a taste of unique luxury once in a while. Buying a share that would entitle a joint-owner to 1 week every two years would cost £28,000, or £310,000 for sole use of all 11 bedrooms! Not cheap certainly, but within the reach of many more people.
But fractional ownership isn't just about making the luxurious achievable, it can also bring the dream of owning a holiday home within the reach of people on modest incomes. Homes in Bulgaria are cheap (when compared to Western Europe/USA) but at a minimum of around £20,000 are still out of reach for many people. However if you were to buy with 10 other people then that would be only £2,000 per share! Each 10th share would entitle you to spend 5 weeks every year at the property.
Isn't this just timeshare? Well no, in each case the joint owners would own their own fraction of the freehold. If the property were to be valued periodically and the joint-owners were offered the chance of exchanging their share for the full market value of it then they could benefit from any increase in value.
Why stop at property! Shared ownership can be applied to many other leisure assets, e.g. yachts, planes, prestige cars, motorhomes etc. etc. The possibilities are endless.
More research can be undertaken at the following web sites:
http://www.reachtogether.co.uk/ A community dedicated to the promotion of shared ownership (of almost anything!). You can browse the current shared ownership schemes and/or suggest your own. Particular features of the schemes currently listed are the provision of specified end dates (usually 3-5 years), the low share values (from £100), and the option for the schemes to be self-managed (cutting out management fees).
http://www.eupp.co.uk/ London-based property experts specializing in European property.
http://www.millionaire-property.com/ View millionaire properties for sale from around the world.
http://www.bulgarianproperties.com View a great range of Bulgarian property for sale.
Related Tags: property, luxury, france, bulgaria, affordable, fractional, cannes, riviera
Neil Robertson is the entrepreneur behind http://www.reachtogether.co.uk, a fast-growing website dedicated to promoting the concept of fractional/shared ownership of leisure assets.
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